BASKING RIDGE, N.J.–The CEO of one credit union has authored an op-ed published by the national publisher Kiplinger that shares why trust in financial institutions has become so critical and how his CU seeks to build that trust.
Kevin Brauer, president and CEO of Affinity FCU in New Jersey, wrote that cyberattacks, fraud, misinformation and confusing fees have weakened confidence in financial institutions at a time when what people want most is a financial partner that listens, responds and acts with their best interests at heart.
“Banks and credit unions have made a lot of effort through the years to restore the trust of Americans who rely on them to hold their hard-earned money,” wrote Brauer. “Since the turn of the century, consumers have had plenty of reasons to be selective and critical of institutions due to cyberattacks, personal identification hacks, mismanagement of accounts and the mortgage crisis of the late 2000s.
“Trust in a financial institution is built over time, yet it can be lost in an instant. When that trust is fragile, as it’s been for some time, the role of a credit union becomes even clearer,” Brauer added.
More Than an Account Number
Brauer said consumers want to know the organization holding their money sees them as more than an account number, and that it’s the follow-through that shows words matter.
“That commitment is woven into how we operate at Affinity Federal Credit Union, where I am the CEO and president,” Brauer wrote. “Reliability, transparency, and empathy shape every interaction. If we make a mistake, we own it. If a concern goes unresolved, we revisit it until it’s right. That consistency forms the base layer of trust because members notice not just what we do well, but how we respond when things don’t go as planned.”
‘Simple Act of Understanding’
Brauer shared the story of one member who faced unexpected medical bills whom AFCU contacted directly and worked out a more favorable repayment schedule.
“There was nothing complex about it on our side. It was just a simple act of understanding. That approach reinforced what trust really means: being there when people need you most,” Brauer wrote.
The piece goes on to outline how different generations often define trust in slightly different ways.
