Credit Unions Seize Opportunity to Build Trust with Members Through Identity and Digital Protection Services

Credit union members are deeply concerned about the impact of identity theft on themselves or their families, with 90% expressing worry, new research from Aura reveals. This concern presents a significant opportunity for credit unions to offer identity and digital protection services, thereby deepening trust and engagement. In fact, 67% of members would use such a product if it were offered through their credit union. Aura's proprietary survey of U.S. banking customers also highlights a generational gap in trust, with 59% of adults aged 35-44 feeling confident in credit union security, compared to just 37% of members aged 55+. Credit unions can leverage this opportunity by embedding identity protection and cybersecurity into their offerings.

Key Takeaways:

• 90% of credit union members are deeply concerned about the impact of identity theft on themselves or their families.
• 80% believe it's their credit union's responsibility to protect their personal information and identity.
• 67% would use an identity protection product if it were offered through their credit union.
• 72% said they'd be more likely to trust and adopt such a product if it came from their credit union rather than a third-party provider.
• Credit unions have a strategic opportunity to redefine core services, serve high-stakes households, and deliver holistic protection across life stages.
• Research conducted by The Harris Poll on behalf of Aura showed that confidence varies among credit union members, with fewer than half viewing credit unions as more secure than traditional banks.
• High-income households and homeowners make up a sizable portion of the credit union base, with higher expectations for digital protection.

Statistics:

• 90% of credit union members are deeply concerned about the impact of identity theft on themselves or their families.
• 80% believe it's their credit union's responsibility to protect their personal information and identity (Aura survey).
• 67% would use an identity protection product if it were offered through their credit union (Aura survey).
• 72% said they'd be more likely to trust and adopt such a product if it came from their credit union rather than a third-party provider (Aura survey).
• 59% of adults aged 35-44 feel confident in credit union security, compared to just 37% of members aged 55+ (The Harris Poll on behalf of Aura).

Sources:

1. Aura survey of 685 banking customers in the US, 176 of which primarily use a credit union; aged 18+, all income levels.

2. Research conducted by The Harris Poll on behalf of Aura (accurate to within +/- 2.5 percentage points using a 95% confidence level).

3. Aura. Retrieved from