Consumers choose credit unions for affordability, security, opportunity
As Americans increasingly choose to conduct financial business with lower cost, more accountable institutions, credit unions continue to meet their needs. That’s why credit unions outperform banks in multiple financial metrics, wrote America’s Credit Unions President/CEO Scott Simpson in The CU Daily, backed up with recent data directly from consumers.
“Three-quarters of Americans view credit unions positively, 17 points above national banks, according to the polls,” pointed out Simpson. “This statistic, along with their community commitment, is why credit unions opened a net 673 branches around the country from 2012 to 2024. More than 20,000 bank branches closed during the same period.”
Additional results show 93% of consumers believe their credit union cares about the local community and 94% favor allowing credit unions to expand into more communities.
“Americans are not confused about what works. They are choosing credit unions because they offer a proven path to affordability, security, and opportunity,” Simpson wrote.
America’s Credit Unions and leagues are working with Congress and the administration to emphasize credit unions’ ability to help people succeed. This outreach is vital for consumers, added Simpson. “Expanding awareness of and access to credit unions is one of the most direct ways policymakers can help people achieve the financial freedom and long-term prosperity they have earned.”
Advertisement
