NEW YORK–As concerned as many credit union employees are with interacting with members right now, a new survey finds members are just as worried about meeting with them.
And while CUToday.info is reporting separately on other findings that consumers are worried about paying off their credit cards, concerns appear to be even broader.
A survey of 1,000 consumers conducted online on March 15, related to the effects of COVID-19 on retail banking and what consumers expect found consumers ready to use more digital channels, with 82% expressing concern over going to their local bank or grocery store, according to a new survey conducted by Lightico.
Among the other findings:
- 49% of consumers are less likely to take a loan from a bank if it requires going to a physical branch
- 73% are doing more remote work or remote errands due to the coronavirus
- 63% are more inclined now to try a new digital app or website than before the coronavirus
- 84% expect brands to find ways to maximize digital interaction to keep them safe
- 58% of digital journeys are “still broken and require physical or off-line efforts to complete banking interactions”
- 35% have had their bank, CU, lender or auto loan provider reach out with offers to ease payments temporarily
Concerns Over Paying Loans
That last finding is particularly relevant, as Lightico reported 56% of those surveyed expressed concerns over their ability to pay back loans (mortgage, car, etc.) in the coming months.
“By simplifying customer interactions in the last mile of the customer journey, businesses make it easier for their customers to be their customers, earning their trust and loyalty, translating to higher profits,” Lightico said in a statement accompanying release of the findings.