Led by Filene Fellow Lisa Servon of the University of Pennsylvania, the Center of Excellence for Consumer Financial Lives in Transition studies the changing financial lives and livelihoods of consumers, new forms of economic struggle and financial fragility, and how these changes impact the North American credit union system.
For the latest update on the Center of Excellence for Consumer Financial Lives in Transition, read the Center position paper here.
WHAT WORK WILL BE DONE BY THE CENTER FOR CONSUMER LIVES IN TRANSITION?
The Center for Consumer Financial Lives in Transition is a four-year research project aimed at tracking shifts, large and small, in the ways that people make and manage their money and understanding how those shifts are affecting people’s financial well-being and financial services providers. Ultimately, the Center seeks to equip credit unions to engage an increasingly diverse consumer base characterized by evolving attitudes and activities and heightened vulnerability.
Research conducted through the Center will dig into two kinds of “transitions” to build a playbook for credit unions to better serve U.S. residents’ changing needs and expectations:
- Shifts in the political and economic environment that have altered some of the fundamental conditions of economic security and mobility in the U.S., and
- Lifecycle and lifestyle changes faced by particular populations who are transitioning from one situation to another.
Learn about Dr. Servon's vision and the answers to more questions by downloading the overview.