Focus Groups in Allentown

Dorney ParkMatt and I were in Allentown, Pennsylvania last week to conduct some focus groups for Lehigh Valley Educators CU. The credit union’s boardroom has a fantastic view of Dorney Park and its many coasters.

Focus groups are always an eye-opening experience. We always learn something new about people and the attitudes and beliefs that people have about their finances, banks, and credit unions. My favorite response when I asked one of the groups to explain the difference between a bank and a credit union, was “A credit union has to do with something about something.” Overall, it was readily apparent that most people do not have a clear idea about the difference.

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3 Responses to “Focus Groups in Allentown”

  1. Trey Reeme Says:

    Love this post!

    Were there any correct answers about the CU difference from the group?

  2. Morriss Partee Says:

    Yes, for sure, some people do understand the difference. It’s just that it’s very vague, and most are not clear about the difference. Out of the four sessions we conducted, some people knew that they are part-owners, and several folks talked about lower rates and fees. One person thought that banks and CUs are pretty much the same and another said that she’s always wondered what the difference is.

  3. Jerry Manor Says:

    Me too!

    I love to spout off on this subject to anyone who will listen. (I work at a CU)

    A few years ago my college age daughter was home on vacation and I was driving her and a couple of friends somewhere when Megs (daughter) put one of her friends up to asking me how things were going at the bank. Needless to say, I really got going on where I really worked and the difference between banks and credit unions. They were able to hold their laughter in for a short time and then I realized I’d been had. But before we got to our destination, everyone in the car was well versed on the difference!

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