According to the Bureau of Labor statistics, transportation expenses are the second largest discretionary spending in a consumer’s budget. The industry is so large, it’s one of the few nationwide ‘trillion dollar’ industries. (Healthcare, food, and housing are the other three.)
In the early days of the pandemic, researchers were already hard at work. They wanted to see the effect our socially-distant lifestyle had on banking. Some of their findings were alarming—even though they’re right in line with what we expected.
Great consumer business are usually successful for one of three reasons:
Credit unions have many advantages over banks. But you know that, of course. And yet sometimes, especially when community banks offer better rates somewhere, or when big banks have better credit card rewards, it can be hard to remember the intangibles that credit unions offer.
One of the most important tools that credit unions have to manage identity is two-factor authentication (2FA). Most credit unions and financial institutions have something like 2FA in place. But not all 2FA solutions are created equal.