CUNA Mutual Group this week released consumer research exploring multicultural and multigenerational consumer insights. The “What Matters Now™” report is the fifth in the series of research and this year includes data on Native American, Alaskan Native and Indigenous consumers, as well as qualitative data, shining a light on human experiences behind consumer data.
With nearly 10,000 multicultural and multigenerational participants across the country, the report is developed and digested specifically for credit unions. In addition to data insights, the report also includes action steps for credit unions to help members and their community achieve financial well-being.
Key themes included in the report focus on:
- People. Understanding today’s multifaceted consumer and being ready to serve tomorrow’s consumer, acknowledging groups that have been left out.
- Emotional fluency. Understanding people’s hopes, dreams and worries.
- Solutions for financial well-being. Understanding what products and services people are using to survive and thrive.
- Connection. Understanding how people interact and get information about primary financial institutions and what they offer.
- Evolving consumer expectations. Understanding how the pandemic and this point in history has shaped what people expect from financial institutions and how to show up for consumers now.