The CUInsight headline caught my eye: “Why credit unions must step up as financial stabilizers to rebuild consumer confidence.”
The piece was authored by Dave Buerger, CEO of Union Credit and, before that, he was CEO of CuneXus, where he was a co-founder.
At Union Credit the mission is delivering 1-click, perpetual loans to credit union members. 70+ credit unions are Union Credit customers and a key to Union Credit’s business is that it memberizes non members in a very few minutes.
What triggered Buerger’s piece is a consumer confidence survey commissioned by Union Credit that found that consumer confidence is shaky indeed.
Take aways from the survey are: “Only 12.5% feel very confident about their finances. The majority are in the middle with 57% rating themselves a 3 or 4 out of 5…. 54% are feeling cautious, 45% anxious, and 30% overwhelmed.”
No wonder many institutions are experiencing a slowing loan volume.
Buerger believes credit unions can take steps to strengthen consumer confidence,
Buerger wrote in CUInsight: “Consumers are pressing pause, not stop. They’re delaying major financial decisions because they don’t feel safe committing before they understand their options. Yet 36% told us they would still move forward with financing if the offer felt secure and transparent. That gap between hesitation and action is where credit unions have both a responsibility and an opportunity.”
In the show today he elaborates on these thoughts
Buerger is optimistic but realistic as well.
And he firmly believes that Union Credit’s tools can help credit unions improve their loan volumes,
