On Mother’s Day (and every day) we give thanks to all women for the significant role they play in our lives. This time of year, we tend to reflect on the positives our moms have brought to life for us—like unconditional love, heartfelt support and selfless guidance. Today, many women are also a powerful influence in their families’ finances. In fact, women in the United States:
- Control 51 percent ($14 trillion) of personal wealth.
- Drive 70-80 percent of all consumer purchasing.
- Act as the “CFO” in the majority (51 percent) of households.
We also know that 85 percent of women over the age of 40 has had one or more child. They are complex consumers with unique needs. Compared to men, research suggests that women:
- Live longer.
- Earn and save less.
- Are more likely to take career breaks to raise a family.
- Invest more conservatively.
The post Four reasons credit unions are in a great position to serve the financial needs of women appeared first on CUInsight.
May 13, 2017 at 01:05AM
from Felix Gomez
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