This week’s issue of the Competitive Intelligence Update explores how newcomers are making progress but also face serious challenges in establishing their financial lives in Canada, according to survey results recently released by Leger.
Challenges often lead immigrants to innovative solutions, such as starting a new business meaning opportunities to provide business banking.
Understanding the profiles of newcomers is key to tailoring financial services to meet their needs. While immigrants are generally younger, more educated, and tech savvy than the general population, they also have a diverse range of experiences that shape their financial needs. It is important not only to create a financial environment that is welcoming and accessible to all newcomers from different regions but also to provide financial services that are versatile to meet their varied needs.
This issue also looks at newcomers’ financial situation, home ownership goals, primary financial institution, banking products used, and much more, including opportunities for credit unions. The issue also reviews the latest big merger plans in the alternative lending space.
Enjoyed that sneak peek? Well, get the full story when you become a CI Update subscriber! To receive a full copy of this issue in your inbox, email research@ccua.com to sign up for a Competitive Intelligence (CI) Update subscription today, This weekly publication offers credit union employees the latest research intelligence they’ll need to support success at their credit union.