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NEWS RELEASE
FOR MORE INFORMATION CONTACT:
Ryan Shell, 336-408-2176, marketingrequests@truliantfcu.org
Consumer's Spending Habits
Winston-Salem, N.C.(April 20, 2009) – You don’t have to be a high paid analyst to understand that the economy is in one of the worst conditions since The Great Depression. In an effort to better understand how its member-owners are being affected by the economy, Truliant Federal Credit Union has conducted a survey to find out just that.
Survey questions included the following:
Q: Has the current state of the economy affected your spending habits?
| 48% | - I’ve only cut back on a few non-essential items. |
| 28% | - I’ve cut back on everything and only buy the necessities. |
| 14% | - I spend about the same as before. |
| 9% | - I have difficult choices to make right now, even when it come to necessities. |
For the members that have their spending habits affected by the economy the credit union followed up the initial question with,
Q: If you have cut back on spending, what areas are most affected?
| 73% | - Dining Out |
| 70% | - Entertainment |
| 64% | - Travel, vacations |
| 59% | - Clothing |
| 55% | - Home Electronics |
| 45% | - Auto (buying/leasing a new vehicle, repairs) |
| 35% | - Home Appliances |
| 22% | - Cell Phones and/or calling plans |
| 5% | - Other |
From the “other” category, popular items that were mentioned include groceries, medications, food and club memberships. Another trend that the “other” category highlighted is that more of Truliant’s member-owners are starting to purchase generic products to help them save money.
Note: More than 3,000 Truliant member-owners responded to the survey.
About Truliant Federal Credit Union
Truliant Federal Credit Union is a not-for-profit, financial cooperative that provides affordable financial services to its member-owners. Truliant was chartered in 1952 and now serves over 180,000 members and has 25 Member Financial Centers in four states. For more information about Truliant visit TruliantFCU.org.
Contact Information
Ryan Shell
Marketing Communications Supervisor
Truliant Federal Credit Union
336-408-2176
marketingrequests@truliantfcu.org
