Many consumers still think you have to belong to a labor union to become a member. They assume credit unions have limited products and services. They believe credit unions are technologically inferior to banks, and that banks have better security. While credit unions have always had a big awareness problem, these research findings show how much work they have to do.
Read More:
- Why Are Credit Unions Tax Exempt? Do You Really Know?
- Can Credit Unions Afford a National Campaign?
- Credit Unions Dropping ‘Credit Union’ From Their Names
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Instant payments are the new normal
Today, people and businesses expect to make payments instantly. With the Federal Reserve’s FedNow® Service, financial institutions can enable their customers to do just that.