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From avocado-toast debit cards to pumpkin spice-themed loans, financial institutions are running culinary initiatives to bring consumers to the table.
Verve, a credit union, has offered its pumpkin spice loan since 2014 as part of a full menu of themed products.
U.S. credit unions gained their largest total chunk of the vehicle lending market in the past five years, at more than 25% in the second quarter, by underpricing their rivals. Banks are still ahead, but just barely.
By offering financial education through local crisis centers and community groups — and following through with access to credit — many credit unions are building trust with people who had been wary of working with mainstream institutions.
The National Credit Union Administration continues to distribute recovered funds to credit unions across the country, but some in North Dakota believe they are being disregarded and deprived of more than $10 million.