When credit union members experience periods of financial change, nearly half don’t reach out to their primary financial institution. Instead, they reach out to friends and families, according to data from Gallup.
What that “change” looks like can run the gamut — from earning additional income, preparing for retirement, or expanding a family to experiencing a job loss or unemployment, making a major investment or purchase, or facing an unexpected expense.
SOURCES OF SUPPORT DURING FINANCIAL CHANGE
FOR SURVEY CREDIT UNION MEMBERS | DATA AS OF 03.31.25
SOURCE: GALLUP
Strategic Insights
- A full 60% of the credit union members surveyed skipped their credit union entirely when seeking advice during a period of financial change. This is lower than the 67% of bank customers who did not seek help from their bank; however, it underlines the work many credit unions must accomplish to fulfill their mission.
- The Gallup study suggests financial wellbeing support starts with channel consistency, digital enablement, and anticipating members’ needs. When taking on debt, just 50% of credit union members said they were even aware of how their credit union could help them through this change. To combat this, Gallup recommends creating a seamless, reliable member experience with smooth transitions between channels; matching members with the right digital tools and actively supporting adoption; and being proactive in understanding where members are in their personal journey and what they might need next.
- Vantage West ($3.4B, Tucson, AZ) taps into its mission to serve members’ needs. Its financial wellness program focuses on coaching and connects members to local nonprofits that support housing, education, economic development, and more. The credit union has served nearly 700 people as of November 2025, further establishing itself as a trusted financial partner in the Tucson area. Read more about Vantage West’s financial coaching program.
- Take note: Financial misinformation spreads fast. That’s why Vantage Credit Union ($1.1B, St. Charles, MO) and Merck Sharp & Dohme Federal Credit Union ($929.9M, Chalfont, PA) ensure their members receive accurate, trustworthy guidance in addition to quality services. Read more about how these credit unions battle social media, educate members on debt reduction, and offer empathy without the embarrassment.