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CONSUMER CONFIDENCE STRONGER AMONG CREDIT UNION MEMBERS,         ACCORDING TO DISCOVER® U.S. SPENDING MONITORSMRiverwoods,...
Spending Intentions Increase among Credit Union Members       •   Intentions to spend more on household expenses increased...
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Discover U.S. Spending Monitor Update: Q2 2012 Credit Union Member Insights (Article)

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Credit union members’ attitudes about the economy remain stronger than non-credit union members, according to data released today from the credit union member demographic of the Discover U.S. Spending Monitor. While credit union members grew slightly more pessimistic from earlier this year, they generally are more positive about the economy and their personal finances than non-credit union members are more optimistic than they were at this time last year. For more details: www.nafcu.org/discover

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Discover U.S. Spending Monitor Update: Q2 2012 Credit Union Member Insights (Article)

  1. 1. CONSUMER CONFIDENCE STRONGER AMONG CREDIT UNION MEMBERS, ACCORDING TO DISCOVER® U.S. SPENDING MONITORSMRiverwoods, IL, August 15, 2012 – Credit union members’ attitudes about the economy remainstronger than non-credit union members, according to data released today from the credit unionmember demographic of the Discover U.S. Spending Monitor. While credit union members grewslightly more pessimistic from earlier this year, they generally are more positive about theeconomy and their personal finances than non-credit union members are more optimistic thanthey were at this time last year.Credit Union Members More Confident in Economy Year over YearCredit union member respondents rate the economy more favorably than non-credit unionmembers. • Forty-eight percent of credit union members rated the economy as “poor” in July 2012, a 13- point improvement from the same time period last year. By comparison, 57 percent of non-credit union members rated the economy as “poor” in July 2012. • Looking at a year-over-year comparison, credit union members who expect the economy to get “better” increased 13 percentage points in July 2012 to 33 percent, versus the same time period last year. • The number of credit union members expecting the economy to get worse declined 8 percentage points to 49 percent in a year-over-year comparison from July 2011 to July 2012. This compares to 56 percent of non-credit union respondents who expect the economy to get worse, which is 4 percentage points lower than a year ago.Views of Personal Finances Also StrongerCredit union members have stronger views of their personal finances than non-members, and aremore positive about their finances now than over the same time period last year. • Credit union members who rate their personal finances as “excellent” or “good” remained the same as April 2012 at 42 percent, while non-credit union members with the same view declined 5 percentage points to 31 percent. However, credit union members rating their finances as “excellent” or “good” increased 7 points in July 2012 from what was reported a year ago. • Forty-five percent of credit union members believe their personal finances are getting “worse” in July 2012, a 3-point increase from April. Fifty-one percent of non-members feel their personal finances are getting worse,, also up 3 points from April. More than half of credit union members expect to have money left after paying bills, at 54 percent, while only 45 percent of non-credit union members report the same this month.
  2. 2. Spending Intentions Increase among Credit Union Members • Intentions to spend more on household expenses increased month-over-month for credit union members, from 30 percent in June to 38 percent in July 2012. However, this is still lower than the 43 percent who expected increased spending at this time last year. • Additionally, intentions to spend more on discretionary entertainment (up 4 points to 12 percent), household improvements (up 5 points to 18 percent) and major personal purchases (up 2 points to 17 percent) were all up year-over-year in July 2012.The findings among credit union members are part of the Discover U.S. Spending Monitor,which polls more than 8,200 consumers each month. Beginning in June 2010, the survey askedparticipants to indicate if they were members of a credit union. Of those polled each month, onaverage 2,500 are credit union members. For more Discover U.S. Spending Monitor survey data,charts and information, please visit www.discoverfinancial.com/surveys/spending.shtml.About Discover U.S. Spending MonitorThe Discover® U.S. Spending MonitorSM is a monthly index of consumer spending intentionsand capacity that is based on interviews with a random sample of 8,200 U.S. adults conducted ata rate of 275 per night. In addition to spending, the survey asks consumers their opinions on theU.S. economy and their personal finances. Beginning in June 2010, the survey asked consumersto indicate if they were members of a credit union. Of those polled, between 2,000 and 3,300each month are credit union members. Findings for the credit union member demographic arereleased quarterly. The Monitor began in May 2007 with a base index of 100. Surveys areconducted by Rasmussen Reports, an independent survey research firm(www.rasmussenreports.com).About DiscoverDiscover Financial Services (NYSE: DFS) is a direct banking and payment services companywith one of the most recognized brands in U.S. financial services. Since its inception in 1986, thecompany has become one of the largest card issuers in the United States. The company operatesthe Discover card, Americas cash rewards pioneer, and offers personal and student loans, onlinesavings accounts, certificates of deposit and money market accounts through its DiscoverBank subsidiary. Its payment businesses consist of Discover Network, with millions of merchantand cash access locations; PULSE, one of the nations leading ATM/debit networks; and DinersClub International, a global payments network with acceptance in more than 185 countries andterritories. For more information, visitwww.discoverfinancial.com.

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