Credit unions are in a unique position in the financial services world. As member owned, mission driven institutions, you have a built in advantage when it comes to trust and community connection.
But that connection can’t be taken for granted. Understanding what members really need and what they think about your services is critical to staying competitive and relevant.
That’s why focus groups are so valuable.
Unlike surveys, which provide surface level trends, focus groups create space for deeper conversations. Members can share stories, voice concerns, and explain the reasons behind their choices. These sessions often reveal insights you won’t find in data alone.
If you’re looking to improve the member experience, test a new product, or refine your messaging, focus groups can help you make smarter decisions rooted in real feedback.
Focus groups give credit unions the chance to hear directly from the members they serve. These conversations reveal attitudes, pain points, and unmet needs that are often hidden in survey responses or transactional data.
For example:
It might appear that younger members rarely use your app, but a focus group can uncover whether that is due to usability issues, lack of awareness, or competition from fintechs.
One of the biggest advantages of focus groups is their ability to uncover the story behind the numbers. Surveys tell you what is happening, but focus groups often explain why. That context helps you make meaningful improvements instead of guessing.
The financial landscape is shifting quickly. Digital banks and fintechs continue to grow in popularity, which means credit unions can’t rely on rates alone to win members. The experience itself has become just as important.
By hearing directly from key member segments — whether younger adults, retirees, or small business owners — you can adapt your strategy and keep members engaged as expectations evolve.
For more on why this matters, visit our post on banking trends and statistics for a closer look at how member preferences are changing.
Credit unions use focus groups for many different research needs. Below are some of the most common examples.
When you’re developing a new product or service, or even testing a marketing message, concept testing is essential. Focus groups give you the space to explore ideas in depth and ask follow up questions that uncover what resonates and what does not.
We once ran a focus group for a financial client and learned that what the marketing team thought was their strongest selling point was actually confusing to members. Those insights saved them from launching an ineffective campaign.
You can also test early creative concepts, like advertising visuals, taglines, or even a proposed member rewards program. Focus groups allow you to make adjustments before moving forward.
If you want to understand how your credit union is perceived, focus groups can provide a level of detail that surveys cannot. While a survey might show you are seen as “trusted,” a focus group can explain what specifically builds that trust, or what might erode it.
Focus groups are especially useful when comparing your brand to competitors or uncovering how members describe your services to friends and family. That kind of feedback is often more nuanced than a simple ranking.
For more examples of how financial institutions use research to strengthen their brands, visit our guide to market research for banks and credit unions.
Every interaction with a member, from opening an account to applying for a loan, is an opportunity to strengthen loyalty. But it is also a chance to lose it if the experience falls short.
Focus groups let you map the buyer journey in detail by listening to members describe each step.
These sessions can identify moments of friction or confusion you may not realize exist. That information is critical for improving satisfaction and helping members choose you over competitors.
We explore this topic further in our post on strategies to grow customers at a bank or credit union.
Here are some general member questions to consider including for your focus group with credit union audiences:
For Concept Testing:
For Brand Research:
Running a successful focus group starts well before the discussion begins. Over the years, our credit union market research company learned that careful planning is what makes the difference between surface-level feedback and truly useful insight. Below are a few key tips from our experience working with credit unions.
The people in the room matter just as much as the questions you ask. Be thoughtful about who you invite to participate. Make sure the group reflects your target audience, and consider segmenting participants based on factors like age, member tenure, or account type. This allows you to tailor the conversation and ask the right questions to the right people.
In some cases, it makes sense to conduct multiple sessions with different segments rather than mix everyone together. For example, younger members and retirees likely have very different expectations, pain points, and product needs. Segmenting ensures their voices aren’t drowned out and that you get more focused feedback from each group.
Here is a perfect example of a banking consumer segment we created.
A skilled moderator is essential to keep the discussion productive and balanced. For credit union studies, it helps if the moderator understands the industry or is familiar with member-first models.
That familiarity leads to more thoughtful follow-up questions and a tone that feels authentic to participants. Just as importantly, a good moderator knows how to encourage open discussion without leading or inserting bias.
If you’re ready to hear directly from your members and uncover insights that drive better decisions, our team at Drive Research is here to help. We’ve worked with credit unions across the country to design, moderate, and analyze focus groups that deliver meaningful, actionable feedback.
Whether you want to test a new product, refine your brand, or improve the member experience, we’ll guide you through every step of the process. From recruiting the right participants to asking the right questions and presenting clear findings, we make it easy to get the answers you need.
Reach out to our team today by filling out an online form or emailing [email protected] to start planning your credit union focus group.
