SRM (Strategic Resource Management) has conducted its second diverse sampling among banks and credit unions to evaluate their ongoing response to the effects of COVID-19 in the United States, including observed trends across various consumer banking behaviors. The survey captures financial institutions' matured responses, consumer payment patterns in a prolonged pandemic environment.
SRM's initial survey in March focused on bankers' early attitudes just as the pandemic reached the level of having national systemic impacts. The goal of the second survey was to investigate specifically the evolving landscape in digital transformation and payments as COVID-19 was re-asserting itself across the United States. Launched late June, it garnered a higher response rate from a healthy mix of banking executives and credit union leaders across geographies.
Even as this survey was closing in early July, many communities were stalling or regressing in their reopening plans. Nonetheless, SRM's poll results reveal a greater consensus is forming around the anticipated impacts and duration of COVID-19.
For key findings, view the survey results on the SRM website.
Strategic Resource Management is a strategic partner of the Minnesota Credit Union Network. Contact Kris Jacobsen for details.
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