WASHINGTON—For years, banks have invested heavily in tools designed to help consumers better manage their money, from budgeting apps and credit score monitoring to savings programs and personalized financial guidance. Yet a new study suggests that even as customers increasingly recognize those efforts, many still aren't taking advantage of them.
According to the 2026 U.S. Financial Health Support and Advice Study from JD Power, 47% of customers recall receiving some form of financial advice from their bank. Awareness of financial wellness tools and support programs is also rising. But adoption remains stubbornly low, with many services attracting participation from fewer than one in five customers.
That disconnect between awareness and action may be one of the biggest challenges facing financial institutions today, according to Jennifer White, managing director of financial services intelligence at JD Power.
“What's really interesting is that banks are breaking the barrier with getting customers to recognize when interactions move into something more value-added than transactional,” White said. “That awareness and recall of having those value-added interactions is increasing over time. But when we get to adoption rates for specific services or tools, adoption remains pretty stagnant.”
The findings suggest that many institutions have succeeded in making customers aware of available resources but have struggled to convince them those resources are worth using. White said consumers most often cite three reasons: they already rely on another trusted source for financial guidance, they don't fully understand what services are available, or they lack confidence in their own financial knowledge.
“One of the biggest roadblocks is low confidence in their own personal financial literacy,” White said. “Do I actually know enough to take advantage of what's available to me? Or do I have enough money to make the effort worthwhile?”
Financial Health Divided
The challenge comes at a time when financial health remains sharply divided. JD Power found that 36% of consumers are financially healthy, while 43% are financially vulnerable. At the same time, customers continue to seek practical, near-term guidance rather than long-range financial planning. The most requested topics include quick tips to improve financial situations, emergency savings strategies and budgeting assistance.
For credit unions, the findings may challenge some long-held assumptions about relationship banking. While credit unions have traditionally excelled at personal service, White cautioned that today's consumers increasingly experience their financial institution through digital channels rather than branch visits.
“I think they tend to do a better job in person,” White said of credit unions. “But I don't know that the digital interactions and marketing interactions necessarily outpace other types of banks. It's really an omnichannel approach.”
That shift may be particularly important as consumers increasingly turn to nontraditional sources for financial guidance. JD Power found that 53% of customers have used artificial intelligence for financial advice within the past three months, creating new competition for banks and credit unions seeking to establish themselves as trusted financial partners.
White said institutions hoping to deepen engagement need to move beyond traditional financial planning conversations and focus on the immediate concerns consumers face today.
“Customers are very clear that they want practical short-term guidance,” she said. “Those priorities have not changed in the last four years. If outreach strategies aren't taking those roadblocks into consideration, we'll continue to have this gap between customers who think they're aware but don't actually use the support that's available.”
The message for credit unions may be straightforward but challenging: personalized service remains a competitive advantage, but only if it reaches members where they increasingly live—on mobile devices, digital platforms and, increasingly, through AI-powered experiences.