Trends Report

What Makes Credit Union Customers Different?

Greater Loyalty, More Trust, And Higher Interest In Product Purchase

May 13th, 2009
Peter Wannemacher, Principal Analyst
Peter Wannemacher Principal Analyst
Brad Strothkamp, null
Brad Strothkamp
With contributors:
Courtney Tincher , Bill Doyle

Summary

US credit unions currently serve more than 90 million members and control 18% of the US checking account market. Credit union customers tend to own more financial products and are more likely to bank, view statements, and pay bills online than customers of local or regional banks. Most importantly, credit union customers are the most likely to be loyal clients who plan to buy products in the future. These differences and a deep recession provide a unique opportunity to shake up the world of deposit accounts.

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