Helping The Irish League of Credit Unions Explore Kids’ Savings Habits (Insights Case Study)
We ran a tailored insights project for the Irish League of Credit Unions to get them feedback from parents to help them better understand their kids’ savings habits and get honest insights on parents perceptions of their services and schemes.
“Parents and Brands helped us garner some interesting and useful insights from real parents, which allowed us shape key decisions in this area.”
Kate Lawlor, Marketing Officer, Irish League of Credit Unions
The Irish League of Credit Unions wanted to a get a better understanding of how children save and what would help parents when it comes to discussing savings with their children.
They also wanted feedback on some of their upcoming campaigns and initiatives.
What We Did
We ran a 3 day panel of 20 parents around Ireland with children in primary school.
We asked them to answer questions, share their opinions and give detailed commentary around their children’s savings habits.
At the end of the project we delivered actionable insights and recommendations along with anonymised verbatim data that the Irish League of Credit Unions could use for further analysis.
What Parents Said
“I have a credit union account for both my girls. I put the money in, it’s not regular as I’m not often in the credit union. Actually it just occurred to me that I could transfer money weekly to build it up. I don’t really use online with credit union but will start.”
“We talk about money sometimes, especially when out shopping and they want to buy something more expensive. I also show them the different coins and notes so they get to know what they look like and the value of each.”
“They put in birthday money, money they get for Christmas / holidays / sacraments. They normally put in 50% and spend 50%. Yes they visit the branch on occasion or we do it online given their accounts are in our names (with their names in brackets to be easily identified & accessible online). They also save at home in piggy banks.”
As with all our insights projects, this tailored group of parents were happy and willing to give feedback and their opinion. As well as insights on savings habits for children the project also delivered key learnings about:
- What would help parents talk to their children about money and savings
- Credit Union schemes for children
- Opportunities to connect with target consumers and what key messages will resonate
- Other ideas to develop to support parents and children with savings