Credit Union Awareness, LLC, a subsidiary of Credit Union National Association

Client: Credit Union Awareness, LLC, a subsidiary of Credit Union National Association
Industry: Banking/Brokerage/Insurance

Challenge: The client wanted to understand how Florida residents perceive credit unions and other financial institutions, the nature and duration of their relationships with financial institutions, and other factors impacting their consideration between credit unions and traditional banks.

Solution: HCP Associates worked closely with the client to design an online survey that would provide granular results and help the client understand Florida residents’ perceptions of credit unions.

Credit Union Awareness, LLC, a subsidiary of Credit Union National Association, conducted a study to measure the degree to which Florida residents consider credit unions in their financial decision-making.

The survey was conducted with a sample of 1,501 Florida residents between the ages of 25 to 54 who met certain criteria. The survey had a margin of error of 3.8% for age groups and 5% for regions. In the survey, HCP Associates defined consideration as the willingness of the respondents to use a credit union when taking out loans or opening checking or savings accounts. The survey results gave the client an understanding of the level of unaided and aided consideration of credit unions by Florida residents. The survey also provided the client with insights into Florida residents’ perceptions of credit unions and other financial institutions, the nature and duration of their relationships with financial institutions, and other factors impacting consideration.