Credit Union Innovation Readiness Index: The Path to Top-of-Wallet Conversion

Credit Unions Win Big with Gen Z but Struggle to Gain Ground with Millennials

Credit Union Innovation Readiness Index: The Path to Top-of-Wallet Conversion

Credit unions (CUs) have carved out a niche among Gen Zers and rural SMBs, but they’re having a harder time winning the favor of high-income consumers and millennials. The “Credit Union Innovation Readiness Index” playbook, a collaboration with Velera, breaks down the forces shaping CU cardholder behavior and reveals how credit unions can strengthen their position, securing the loyalty of consumers and SMBs alike.

Inside the April Playbook

  • 71% of SMB cardholders in small towns and rural areas have their CU cards at the top of their wallets.
  • 20% of consumers whose primary card is from a CU prioritize spending control and tracking.
  • 63% of consumers with a CU card use it to buy groceries.

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    Credit Union Innovation