In 2020, everything changed. The pandemic fundamentally shifted the way we work, bank, and play toward digital. What role will cash play in our future? And how does that affect credit unions?
2.5% of all First-Class Mail® is returned. That may not seem like a significant amount. I assure you that it is. In the volume that credit unions send statements, notices, forms, and other documents, thousands of envelopes may be returned each month.
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: