TAMPA, Fla. (May 17, 2021) – HCP Associates concluded its Florida Credit Union Awareness study on behalf of Credit Union Awareness, LLC. (CUA), a wholly owned subsidiary of Credit Union National Association.
The purpose of the study was to measure the degree to which Floridians consider credit unions in their financial decision-making. In addition to awareness, additional themes explored were their perceptions about the services offered by credit unions and other financial institutions, the nature and duration of Florida resident’s current relationships with financial institutions, and other factors that impact financial considerations. An online survey was deployed to a broad cross-section of Florida residents, controlling for location and age as key demographic factors.
The survey results provided empirical measurements of the Florida market as part of CUA’s multi-pronged market research operations. e. The data will also be instrumental in understanding the level of preexisting consumer consideration before a digital branding campaign is deployed.
According to the study results, residents living in North Florida (the Panhandle, Tallahassee, and Jacksonville) were substantially more aware of and likely to utilize credit unions than other regions in the state. Navy Federal Credit Union is the credit union with which most respondents were familiar.
Despite interesting regional differences, credit union consideration and awareness were not substantially higher than in other states in which CUA was advertising. With certainty provided by these results, CUA moved to begin deploying its awareness in campaign within Florida.