Reaching out to gay, lesbian, bisexual and transgender communities could present future growth opportunities for credit unions, according to the Filene Research Institute.
A new Filene report, "Understanding the LGBT Opportunity in Financial Services," presented a case rooted in the financial reality that many people in these communities experience but few outsiders realize.
The report pointed out that, contrary to popular mythology, most gay men are not wealthy and many same-sex couples experience higher rates of poverty than heterosexual couples do.
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