The National Bureau of Economic Research recently reported that the recession officially ended in June 2009, after 18 months. Despite this report, as many as 14.8 million Americans[i] are without jobs and face economic hardships. A poll conducted by Mint.com last week looked at the impact of the recession on America’s finances and asked consumers to rate their personal finance situations. Americans are a resilient lot. You might be surprised by some the answers.
Now for the tough questions: What can financial institutions do to help customer through these times? Is your institution positioning itself as a financial partner? Will it be in the right place to reap rewards tomorrow by helping customers today?
[i] U.S. Dept. of Labor, Bureau of Labor Statistics Press Release, October 2010