Women, Defined Contribution Plan Holders Likely to Open Trust Accounts

The fallout from the recession coupled with the alignment of other factors may have led to an increased urgency for credit unions to reconsider trust services, according to a new report from the Filene Research Institute. While there is an increased focus on wooing younger people to credit unions, the average member age is still in the mid-forties. The authors of the report used RAND Corp's Health and Retirement Study to track the financial behaviors of American consumers born through 1953. The researchers found that savers and investors with lump-sum assets are the best targets for establishing living trusts.