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Half of Consumers Lack a Financial Adviser: Fiserv

Consumers dislike money management but view FIs as financial partners, giving credit unions a chance to fill the gap.

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Credit unions and other financial institutions have a huge opportunity to add members if they offer products and services that help people take better control of their finances, according to a new Fiserv/Harris Poll survey of 3,050 U.S. adults.

The survey, conducted over a two-week period last fall, found that 45% of consumers agree time spent thinking about managing their money is a chore and 60% view financial management as a “have to do” rather than a “want to do.” One-quarter said they feel lost when trying to manage household expenses, and 48% admitted they don’t have anyone to rely on for advice on managing their finances.

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Tina Orem

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