The COVID-19 pandemic has continued to put pressure on the U.S. consumer, impacting their banking behavior and expectations. Among the changes has been a hastening of already existing trends, like the transition to mobile banking. Oher changes are more subtle, like how consumers select a primary financial institution (PFI).

This study seeks to understand how consumers determine their relationship with their PFI and how the evolving demographics of 2020s U.S. should change how financial institutions approach consumer segmentation.

Customer loyalty brings growth, profitability, and efficiency; in this 42 page study, Raddon examines how institutions can improve their customer loyalty.  Using USAA as a case for successful loyalty, the study explores how banks and credit unions stack up and what USAA is doing that they aren’t.  From branding to primary status to perceived service quality, we turn over every stone in search for the keys to loyalty.  Credit unions will particularly find this study useful as they attempt to improve their member loyalty, but banks will find value as well.