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Filtered Research Reports

America’s Got Talent: Attracting It is the Challenge

In an effort to address the challenge of attracting and retaining talented employees, Filene hosted a day-long colloquium dedicated to sharing new insights and best practices for credit unions' efforts in talent attraction. This report summarizes presentations on the following: Developing your credit union's brand story and using it to...

Domestic Violence Recovery Loan Program

In 2016 Filene published research by Adrienne Adams of Michigan State University on a unique collaboration between a local credit union, domestic violence prevention agencies, and a grantor, to offer affordable loans designed to help survivors of domestic abuse get back on their financial feet. This interim brief reports on...

Generational Money Chatter

As there are currently four generations of credit union members, each with its own, unique attitudes and emotions, it is no longer adequate to assume that one or two voices on financial issues sufficiently represents all consumers. This report provides research-based insights on how each generation views money and finances,...

The Laws of Attraction: Credit Union Recruitment in a Competitive Labor Market

A large hurdle today for many credit unions is attracting and retaining talented employees. This report lays out the key findings from current organizational attraction research and distills implications for the credit union system. The primary determinants of applicant attraction are perceived person-organization fit, job and organization characteristics, and recruiter...

Money Talk: Shifting the Financial Landscape

Filene’s Center for Consumer Decision Making hosted a colloquium to explore the financial experience of the Millennial generation and elicit insights from researchers and a panel of twentysomethings, providing insights for financial industry leaders.  Filene thanks its generous sponsor for helping to make this event possible.

Confidence in Borrowing Survey: Spring 2017

Every six months Filene conducts a national survey to assess confidence in borrowing. Since our previous survey, there has been little change in consumer confidence, and overall confidence in borrowing remains low. However, having a baseline for consumer intention allows us to dive deeper and explore possible motivations and subtleties...

Confidence In Borrowing: Survey 2016

Knowing how consumers feel about borrowing is useful for predicting their intentions and behavior, and is instrumental for developing strategies to support consumers as they navigate how and when to borrow and invest. Our consumer borrowing survey indicates that confidence is low, with over 80% of consumers feeling worried, concerned...

National Banking Preferences

Everyone values something different in their banking relationship. For some its rates and fees while for others its service location and product choice. Consumer banking preferences are shaped by a variety of personal factors such as income level and age. We conducted a national survey of 985 respondents to get...

Blockchain beyond Bitcoin: Insights for Credit Unions

Cyber attacks. Silk Road and the theft of bitcoins on early digital exchanges. State and federal regulations built for a world of fiat currency. Barriers to the legal adoption and deployment of money built on distributed ledgers produced by cryptographic-strength algorithms are real and evolving. Credit unions are, at their...

Assuring Member Financial Capability: A Shared Credit Union Approach

Credit unions have a basic, long-standing interest in helping their members become more financially capable. Within the financial industry, credit unions have a competitive advantage in their member service mission. They have long been innovators in financial capability. Credit unions of all sizes offer financial training in many forms: in-person...

Financial Preferences and Attributes of Middle-Income Investors

The American middle class has a profound market influence and encompasses a diverse spectrum of indi­viduals across a wide household income range. Members of these households generally range from “getting by” to living comfortably. More importantly, they are characterized by their aspirational lifestyles and seek home ownership, family stability, and...

Accessible Financial Services Incubator

According to the St. Louis Federal Reserve, there are now more than 20,000 payday lenders across the country—which tops even the ubiquitous McDonald’s storefront by roughly 40%. These alternative financial services providers offer short-term loans at interest rates that can top 400%. They appeal to desperate consumers with no access...

Enhancing Member Communications Throughout Mortgage Underwriting

Increasingly, the presence of a mortgage is a key indicator of primary financial institution status for credit unions. NPS, when measured across a wide variety of credit unions, is lowest for members who have just completed a mortgage.  In 2013, a Filene i3 team built a rapid prototype to give...

Member Effort Benchmarking: Measuring Ease of Use

Service failures are not fun, but they are instructive. While it’s still important to track factors like member satisfaction and Net Promoter Score, Filene sought to test the value of using a member effort score. Three primary research questions guided our analysis: What does “good” member effort look like? Once we...

Reaching Minority Households: Learning from Minority Credit Unions

A recent FDIC survey of 40,998 households estimates that 34 million households in the United States are unbanked or underbanked. These challenges are especially difficult for many minority households. The FDIC survey found 54% of black and 46% of Hispanic households to be un- or underbanked, well above the national...

Game Changers: A Research Symposium

With the day-to-day swirl of year-to-year goals, bank competition, and interest rate worries to sort through, it can be challenging to learn about the big-picture unknowns that could have just as big an impact on your credit union. With this thought in mind, the Filene Research Institute and Credit Union...

Gen Y vs Gen Z: Understanding Key Differences

While engaging Gen Y has been a priority for credit unions in the last 10 years, it’s not too early to start thinking about capturing 'Gen Zers' as loyal members. Gen Z is made up of millions of Americans born in the mid 2000s to present day. Recognizing their importance...

Are Credit Unions Doing Enough to Help Young Entrepreneurs?

For years credit unions have pursued the goal of “getting younger”—and for good reason. With the average credit union member’s age hovering in the late 40s, Gen Y (18–35-year-olds) represents a prime opportunity for credit unions to continue the legacy of cooperative finance among newer generations. However, focused initiatives are...

Peer-to-Peer Lending and the Future of Cooperation

An entrepreneur born in 1990 has grown up in quite a different world than one born in 1960. Imagine a person born in 1960 opening a restau- rant in 1985. She would have relied on traditional outlets such as banks, credit unions, and investors for business capital—unless the venture was...

Understanding the LGBT Opportunity in Financial Services

Over the years, credit unions have proactively sought to understand and serve particular consumer segments, such as immigrants, Latinos, and millennials. Similarly, the LGBT community is characterized by a distinct set of financial needs, capabilities, and priorities. With the success of the same-sex marriage movement and the national attention on transgender issues, LGBT persons are...

Mobile Banking: Trends in Technology, Innovation, and Equity

Today, people across a broad spectrum of industries and research areas are looking to mobile as a way to address problems from the small (where are my friends hanging out on Friday night?) to the seemingly unsolvable (how can we help lift people out of poverty?). Credit unions need to...

A Wallet Allocation Rule Approach to Used Car Loans

Login to download the full report and click on the button above for a slide deck on the Wallet Allocation Rule Approach to Used Car Loans. Unlike fast food chains, hotels, or even deposits, loans typically reflect a winner-take-all equation: There are no financial rewards for credit unions when they do not...

A Wallet Allocation Rule Approach to New Car Loans

Login to download full report and click on the button above for a slide deck on the Wallet Allocation Rule Approach to New Car Loans  Unlike fast food chains, hotels, or even deposits, loans typically reflect a winner-take-all equation: There are no financial rewards for credit unions when they do not rank...

A Wallet Allocation Rule Approach to Personal Loans

Login to download full report and click on the button above for a slide deck on the Wallet Allocation Rule Approach to Personal Loans  Unlike fast food chains, hotels, or even deposits, loans typically reflect a winner-take-all equation: There are no financial rewards for credit unions when they do not rank first...

A Wallet Allocation Rule Approach to Home Equity Lines of Credit (HELOCs)

Login to download full report and click on the button above for a slide deck on the Wallet Allocation Rule Approach to Home Equity Lines of Credit (HELOCs) Unlike fast food chains, hotels, or even deposits, loans typically reflect a winner-take-all equation: There are no financial rewards for credit unions when they...

A Wallet Allocation Rule Approach to Second Mortgages

Login to download full report and click on the button above for a slide deck on the Wallet Allocation Rule Approach to Second Mortgages Unlike fast food chains, hotels, or even deposits, loans typically reflect a winner-take-all equation: There are no financial rewards for credit unions when they do not rank first...

A Wallet Allocation Rule Approach to Refinanced Mortgages

Login to download full report and click on the button above for a slide deck on the Wallet Allocation Rule Approach to Refinanced Mortgages Unlike fast food chains, hotels, or even deposits, loans typically reflect a winner-take-all equation: There are no financial rewards for credit unions when they do not rank first...

A Wallet Allocation Rule Approach to First Mortgages

Login to download full report and click on the button above for a slide deck on the Wallet Allocation Rule Approach to First Mortgages Unlike fast food chains, hotels, or even deposits, loans typically reflect a winner-take-all equation: There are no financial rewards for credit unions when they do not rank first...

What Millennials Want: The Future of Millennials in the Credit Union System

In a competitive marketplace, attracting the youngest generation is not just good business; it’s a survival imperative. Millennials 18–24 years old have been a key focus for credit unions over the last 10 years—and for good reason: There are nearly 71 million millennials, born between the late 1970s and early...

Living on the Financial Edge: New Debt Challenges for At-Risk Americans

How financially capable are Americans? Over the last year, Filene has released a series of reports on the financial state of four groups that are essential to healthy credit unions—Gen Y, pre-retirees, Hispanics, and women. The data paints a troubling picture of various American subgroups’ financial capability. Take the quiz to test...

Technology at the Crossroads

Real disruption is coming. Correction: It's already here. While this is an exciting time, it can also lead to anxiousness and anxiety for credit unions looking to stay relevant in the eyes of consumers.  Our friends at Design Concepts attended South by Southwest Interactive (SXSWi) earlier this year and gleaned valuable insights...

The Gender Gap: Troubling Financial Capability Findings among Women

The tide is coming in. As women work, earn, save, spend, and invest, they are becoming a more powerful driver of the US economy. Fully 58% of women in America were working at the end of 2012, up from 44% in 1972 (US Department of Labor 2015). And one estimate puts private wealth...

Financial Capability among Highly Educated Hispanics

 Hispanics are becoming influential players in the US economy. The purchasing power of Hispanics was $1.2 trillion in 2013 and is expected to rise to $1.5 trillion by 2015. The United States is now home to 52 million Hispanics; by 2050, this number is expected to grow to 133 million. US Hispanics, on average,...

Emerging Payments and Communities: Reimagining Trust and Mutual Finance

 In 2004 Facebook was an anomaly. As one of the pioneers in social networking, it originally limited access to Harvard students, offered basic functionality, and served as a centralized directory that connected people across the university. While its core user group was exclusive, the message was clear: Facebook wanted to revolutionize the way...

Helping Members Navigate College Costs

College signals success, at least for those who graduate. Holding a bachelor’s degree is one of the best determinants of higher lifetime earnings, and college graduates are almost uniformly positive about the value of their degree: 98% of those making six figures and up say their degree has paid off, and even 63% of...

Coming of Age: Young Adults in 2015

It's predicted by 2025 three out of every four workers globally will be millennials. By now, a majority of credit unions understand the importance of engaging young adults. But how? From innovative to simple, there are numerous strategies at your disposal to grow young adult membership. At the core of any...

The Personal Touch: Optimizing Feedback Loops in Financial Services

Perhaps no industry in the world collects more consumer data than financial institutions. Banks and credit unions know where, when, and how often consumers spend money and how much they spend. They have intimate knowledge of account balances, borrowing trends, and aggregate spending patterns. They can know when consumers have...

Student Lending: Challenges and Opportunities for Credit Unions

College graduation brings joy. It also comes with a price—a very expensive one. This is especially true for those students who rely on loans to finance their college tuition, books, and housing. In fact, the average borrower will graduate with $26,600 of student debt.  While federal and private student lending programs expand access to college for many...

The Gen Y Imperative: Six Lessons for Australian Mutuals

As the baby boomers (born between 1946 and 1964) have moved through each decade of their lives, they’ve shaped the economic, political, and social landscape. As the boomers’ Gen Y children (born somewhere between 1980 and the mid-1990s) continue their own world-shaping journey, marketers are well aware that they “ain’t seen nothing yet” in...

Retail’s Digital Renaissance: Cross-Industry Insights

The digital revolution has upended the retail industry. Due to the increasing popularity of smart phones and tablets, consumers have gradually modified thier consumption habits. Online and mobile shopping are changing the role of the physical store to accommodate consumers demanding a seamless experience whether they’re shopping in a store...

The Impact of Two-Tiered Banking: How Credit Unions Can Bridge The Divide

For many consumers, payday lending is a dangerous cycle of indebtedness.  Yet, payday-lending services are in high demand. As a result, policymakers and the public watch the steady rise of payday lending with concern. This study traces the emergence and expansion of payday lending outlets in Winnipeg and rural Manitoba...

Financial Capability Near Retirement: A Profile of Pre-Retirees

Legendary football coach Vince Lombardi once said, “The harder you work, the harder it is to surrender.” We all want to surrender from the workforce on our own terms. Whether retirement comes early or late, financial planning is necessary. Gone are the days where everyday workers could rely on a...

2014 Consumer Sentiment: Risk Aversion and Household Inequality

The recovery is here but not here. Consumer sentiment, as measured by spending, investing, and borrowing intentions, is an important indicator, especially when growth is lumpy, spread unevenly by region or industry. Feelings of confidence beget investments and risk taking. More importantly for credit unions, confidence leads to member borrowing—for homes, for cars,...

Segmenting Canadian and American Immigrant Prospects

Immigrants come from a variety of backgrounds – different countries, ethnicities, education, and experiences. North America has a proud and storied history of welcoming people from all over the world. For financial services, this presents a continual opportunity to engage.   In fact, in both Canada and the United States,...

The Consumer Experience: Financial Institution Preference and Usage Factors

Today's consumers confront a variety of banking options. Factors like personal trust, household income, and convenience all weigh, in different ways, on consumers' preferences between and among banks and credit unions. This report analyzes consumer survey data to better understand these usage factors and allows productive comparisons between institutions. The data...

Gen Y Personal Finances: A Crisis of Confidence and Capability

Generation Y is the largest, most diverse generation America has ever seen. Generation Y is made up millions of individuals born between the late 1970s and the mid 1990s. While this generation is young, ambitious, educated, and optimistic, many Gen Yers lack adequate personal financial management skills. As a result,...

Next Generation Needs: Examining Credit Union Loyalty Among Young Adults

There’s an often overlooked difference between what attracts members and what keeps members. Credit unions regularly earn the financial services industry’s top honors for loyalty and satisfaction. It’s one thing to measure loyalty in general. But here the researchers are interested in the drivers of credit union loyalty among the coveted young...

A Practitioner’s Guide to Nudging

There is no shortage of behavioural economics research. A Google search yields more than 4 million hits. But very few behavioural researchers manage to bridge the gap between what their research finds and how practitioners can put those findings to work in real-life settings. Soman and his colleagues cross that divide. Drawing...

Mind over Money: Measuring Health and Happiness among Credit Union Members

It's true: Mental well being and financial well being go hand in hand. This report plots the interrelationships between financial capability and psychological well-being among a sample of 1,600 adult credit union members in the United States. Not surprisingly, the findings suggest that members who appear to have lower financial...

101 Things: Credit Union Insights from the Filene Research Institute

An all-hands effort by Filene staff initially returned nearly 150 separate insights, but our commitment from the beginning was to keep the report succinct and useful, so we winnowed away dozens of interesting but less vital bits in favor of fragments, charts, findings, trends, and ideas that will make you...

The Culture of Borrowing and Debt: An Ethnographic Approach

Are your members golden? Are their emotional and financial lives at equilibrium? Filene had two pressing credit union questions: First, how do members conceptualize borrowing and debt, and second, how can credit unions respond to those basic borrowing needs? Eleven credit unions across the country generously supported the research and...

Key Findings: Blueprints for Innovation

Read all about the next big i3 idea. In this publication you will find eight new ideas created by credit union executives from all across North America for the Filene Research Institute’s i3 program. Over a six-month period starting in October 2011, i3 teams began looking for ways to responsibly...

Key Findings: Blueprints for Innovation

We are pleased to announce the publication of Key Findings: Blueprints for Innovation, a report on the latest findings from Filene i3 (Ideas, Innovation, Implementation) is here! The report features: 16 new idea blueprints designed to help members. 3 updated blueprints on ready-to-implement ideas gaining national traction. We encourage you...

“We Don’t Do Banks”: Financial Lives of Families on Public Assistance

This brief highlights the role policymakers can take in easing the financial lives of financially tenuous citizens, but credit unions with members or potential members in the same straits can take a more immediate role by making sure that, for all its popularity, cash is only one of several good...

The Changing Consumer

Not so fast. That’s the consumer confidence takeaway Filene Research Fellow and McKinsey partner Dorian Stone shared with us at a recent gathering of the research fellows. He also did us the favor of letting us share with you some of the takeaways from McKinsey’s proprietary surveys and analysis. Highlights...

Customizing Consumer Choice in Financial Services

VIEW THE ‘LUNCH WITH ED’ SESSION BELOW NEWS FLASH: Consumers are not rational. They will not always choose credit union services, even if they should. Neither will they search out good information, evaluate their options and then select the best choice. So should we throw up our hands? No. Dartmouth’s...

The Future of Member-Facing Technologies in Credit Unions

By the end of 2011, smartphones will outsell standard cell phones, and consumers will continue to defect from bank and credit union websites to pay billers directly. The Future of Member-Facing Technologies in Credit Unions, by tech expert Ron Shevlin, grapples with the changes in consumer habits and what they...

Consumer Credit Delinquencies: Why Do Some Choose Credit Cards over Mortgages?

The stigma formerly associated with foreclosure is disappearing or, in locales hardest hit by the housing bust, completely gone. In this brief, Professor Ethan Cohen-Cole shows that the disappearing stigma is coupled with a rational consideration on the part of consumers to maintain liquidity in times of financial hardship. Several...

Big, Small, or Online? Young Adults’ Evolving Financial Preferences

Does your Website double as a ‘sales prevention tool’? If so, you need to fix that … and soon. Researcher Rob Rubin uses a 1,400-response survey to tease out the preferences online consumers, particularly young adults, harbor for their financial relationships. Learn why ‘good service’ often simply means ‘suitable’ electronic...

Pre- and Post- Retirement Asset Portfolios

Is your credit union ready to manage the retirement assets of America’s largest generation? Pre- and Post-Retirement Asset Portfolios draws on the RAND Corporation’s Health and Retirement Study (HRS) to compare the asset-holding and selling trends between baby boomers and previous generations. The researchers examine important individual variables, like education,...

Overdraft Regulation: A Silver Lining to the Clouds?

Changes to Reg E mean big changes to fee income and credit union profitability. Georgetown law professor Adam Levitin draws on in-depth credit union survey data to estimate that a worst-case scenario could chop credit unions’ fee income by 11% and lower already plunging ROA. Those are the clouds. This...

Committed to Savings: Using Behavioral Economics to Motivate Members

Behavioral economics is an emergent field of study that explains economics by taking into account the often fickle nature of human behavior. As a credit union executive, you can probably attest to the presence of irrational behavior in your interactions with all sorts of financial consumers. In Filene’s latest online...

The Mind of Low to Moderate Income Savers-Phase 1 and 2

LMI families are finding it increasingly difficult to save money. In Does Imagery Matter: Delving into the Mind of Low- to Moderate-Income Savers, the Doorways to Dreams Fund (D2D) and the Filene Research Institute partnered to analyze how marketing images influence LMI families’ likelihood of saving. Researchers used the Zaltman...

Debit vs. Credit: How People Chose to Pay

A new, emerging branch of economics called behavioral economics attempts to take the messy concepts of psychology and behavior into consideration to develop new models of how people make economic decisions. In Debit vs. Credit: How People Choose to Pay, we examine a decision that is especially germane to credit...

Consumer Debt Stress and Credit Cards

In its ongoing efforts to analyze issues affecting the future of consumer finance, we have released the second in a series of Consumer Finance Research Briefs, based on information derived from Ohio State University’s Consumer Finance Monthly (CFM) survey. Consumer Debt Stress and Credit Cards, by Filene Executive Director and...

Who’s Joining Credit Unions

A greater portion of credit unions today are now considered “community credit unions.” This shift has left credit unions with a much more heterogeneous membership than in the past. Filene’s Chief Research Officer George Hofheimer sets out to help credit unions learn more about these new members by answering the...

Attracting Young Adults

As credit unions seek to better serve the next generation of consumers, it becomes essential to understand how young adults are creating their financial lives. In Attracting Young Adults: What Do We Know About Their Use of Financial Institutions and Payment Behaviors, Jinkook Lee, Filene Fellow, professor at Ohio State...

The Mind of Low- to Moderate-Income Savers

Cognitive scientists claim 95% of all human thought is unconscious. New research tools are emerging which can help executives tap consumers’ unconscious thoughts to better understand their preferences. Filene Research Institute recently partnered with Doorway to Dreams Fund (D2D) to test one such methodolgy, called the Zaltman Metaphor Elicitation Technique...

Why Choose a Credit Union? An Ethnographic Study of Member Behaviors

Filene Research Institute is pleased to announce the release of our most recent study Why Choose a Credit Union: An Ethnographic Study of Member Behaviors and the first ever audio interview (or podcast) with the author of the study, Stefanie Norvaisas. Norviasas, who is director of research at Design Concepts,...

Who Uses Credit Unions?

Who Uses Credit Unions, Fourth Edition by Filene Fellow Jinkook Lee, segments credit union and bank users into five categories. Lee uses the most recent information based upon the Federal Reserve Board]s database of consumer finances. The study provides updated data on age, income, wealth, education, occupation, race, ethnicity, gender,...

A Fresh Approach to Measuring Member Loyalty

Is your credit union relevant? Is your credit union providing value to its members? Dr. Laura Brooks, PhD, of Satmetrix Systems evaluates what drives satisfaction of the consumer experience in, A Fresh Approach to Measuring Member Loyalty. Dr. Brooks employs a new metric called the Net Promoter Score® (NPS), a...

COOL Solutions: First-time Home “Yers”

If an automobile is the vehicle that transports consumers to the richness of the American Dream, the home is the destination and the place where the American Dream is domiciled. That’s one topic cited by George Hofheimer in his executive summary to a newly released study, First-Time Home “Yers”, by...

COOL Solutions: First-Time Used Car “Y’ers”

Few consumer events involve the emotional weight of a first car purchase. For young Americans, the automobile is a symbol of adulthood, with all of the privileges it promises – freedom, independence and distance from parents. It is usually the first big-ticket acquisition for young adults, a life event that...

Inheritances: Who Expects to Leave Money to Heirs?

In this research we examine the likelihood that households over age 50 will leave a bequest of $10,000-plus or $100,000-plus. Data is taken from several longitudinal studies on aging sponsored by the National Institutes of Health (NIH). In assessing the influences of both financial and non-financial characteristics on the likelihood...

Gifts That Connect the Generations: A Role for Credit Unions

Here we report the results of research on inter vivo transfers of wealth between generations, which are transfers that take place while the giver is living. It complements the recent Filene study on bequests, or inheritances, which are transfers that take place after the death of the giver. The study...

Who Uses Credit Unions? Third Edition

This is the third edition of an earlier Filene report. It uses data from the most recent Survey of Consumer Finance, sponsored by the Federal Reserve, and it updates and reconfirms a number of earlier findings. In particular, we find that dividing the population into those who are either “members”...

Attracting and Retaining Young Adult Members

Whether by choice or by chance, financial service providers have overlooked the potential of this important market segment. The birth-to-30 age group represents enormous present and future buying power, and a key component of credit union success in tomorrow’s competitive arena. Today’s young people have access to massive information on...

Professional Financial Advice for Consumers: Implications for Credit Unions

The purpose of the research reported here is to determine the extent of consumers’ desire for information and advice on savings and investments and their preferences for how to obtain it. The research is based on data from a mail survey of 3,780 nationally representative households made available through the...

The Economics of Payday Lending

This report examines operations of payday lenders, who uses payday loans and why they choose to do so, and the extent to which customers become frequent users of these loans. It also discusses how credit unions might respond to the rise of the payday loan industry. The payday lending industry...

The Human Touch in the Information Age: What Do Members Want?

Credit unions have held a traditional advantage in developing personal relationships with their members, and they excel in providing the human touch. With the recent, rapid proliferation of alternative, technology-based delivery channels, credit unions could find this advantage diminishing, perhaps rapidly, to the extent consumers switch to non face-to-face interactions...

Where Are Households’ Financial Assets?

This study set out to determine where consumers keep their financial assets, and to develop the implications of that distribution for credit union marketers. We used data from the Federal Reserve’s latest Survey of Consumer Finances, which is based on two-hour, in-home interviews with 4,305 households. The Fed’s database is...

Forging Employee Morale, Trust, and Performance

In the earlier study, Whitener examined human resource practices in credit unions by surveying 1,733 employees at 185 credit unions. Also surveyed were human resource representatives. The present study builds on previous findings by examining three credit unions in-depth. The research approach included site visits and interviews with employees, supervisors,...

Member Acceptance of Electronic Access Systems: Innovators versus Laggards

Lemmon, Gourley, and Ward study credit union members to determine their pattern of adopting new electronic delivery services. To determine this pattern, members were divided into three categories: innovators, the first to adopt the service; late adopters, the next to adopt the service, and laggards, the last group of members’...

Member Satisfaction Levels: National Norms for Comparing Local Survey Results

This report presents the results of a national survey that measured credit union members’ level of satisfaction with different aspects of their credit unions’ services. The report provides national norms on member satisfaction that allow an individual credit union to survey its members and make a direct comparison of its...

The Effects of Human Resource Practices on Credit Union Employees and Performance

Professor Whitener surveyed 1,733 credit union employees at 185 credit unions and found that, regardless of size, a credit union can improve its performance by implementing modern human resource practices. Credit unions whose employees reported more positive attitudes performed better than credit unions whose employees reported less positive attitudes. Human...

Lower Income Americans, Higher Cost Financial Services

Professor Caskey presents the results from a research project that examined the use of financial services by lower income U.S. households and reviewed the fees and operations of nondepository suppliers of financial services, such as check-cashing outlets, pawnshops, and rent-to-own businesses. The research used survey data to answer the following...

Marketing Credit Union Services: The Role of Perceived Value

This study examines important perceptions and motives that contribute to the relationship between a credit union and its members and discusses how credit unions can use these perceptions and motives to create stronger ties with their current membership and recruit new members. Professor Dacin uses the concept of “perceived value”...

Consumer Relationships with Financial Institutions

Professor Lepisto’s research is based on a panel of 2,450 consumers who were surveyed in 1991 and will be surveyed again every four years thereafter. His project’s combination of aging-related variables and consumer financial behavior scales will permit measurements of effects of aging on consumer financial behavior, “trigger points” in...

Personal Bankruptcy: Causes and Consequences

Professors Sullivan and Worden review the current body of knowledge about the nature and extent of personal bankruptcy, draw conclusions about its causes and consequences, and suggest directions for credit unions to follow in combating this growing problem. They show how the dramatic growth in personal bankruptcy is the result...