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5 Strategies for Making Financial Wellness Central to Your Growth Strategy

Help members achieve financial peace, systematically enriching existing relationships while introducing more people to the movement.

By Jean Chatzky and Samantha Paxson | November 23, 2020 at 12:39 PM
hugging piggy bank Source: Shutterstock

There is a new urgency for credit unions to deepen their bond with members in order to earn the primary financial relationship (PFR). In the throes of the pandemic, members need their credit unions more than ever. But it’s also a two way street. Helping members with their personal financial performance boosts stickiness, engagement and trust.

It’s a win-win. Indeed, Gallup research found that among consumers with the greatest sense of financial wellbeing, 91% are extremely satisfied with their financial institution. What’s more, 77% of them are heavily engaged, generating 37% higher revenue than lesser engaged counterparts.

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