In the vast financial services landscape, credit unions have long stood out for their member-centric approach to banking that builds trust and fosters emotional connections beyond the typical bank-customer relationship. This unique aspect of credit unions is the secret to their long-term growth. According to a 2018 from Motista, customers who feel a strong brand affinity generate 306% higher customer lifetime value than those who are merely "satisfied."

Amidst high interest rates and regulatory changes hitting the banking sector, credit unions can leverage their reputation as the "caring" alternative to attract new members, re-evaluating their relationship with their financial institution. To further deepen engagement with their members and reward them for their loyalty – something consumers say banks aren't doing enough, according to a 2023 Accenture study – credit unions should strongly consider introducing a travel loyalty program or integrating travel offerings into their current loyalty frameworks. Why travel? Because it's an aspirational product in high demand, it can also come at a high cost. Mitigating some of that cost via a loyalty mechanism can build a lot of goodwill with consumers.