The surprising link between finances and mental health: How local banks and credit unions are making a difference

By Ainslie Fortune, VP, Account Leadership and People, Cactus

Marketing teams at community banks and credit unions might think they’re competing on the same terrain as everyone else, focusing on rates, digital features, and vague consumer-friendly taglines. Frankly, it just isn’t enough, and it’s overlooking one of the biggest differentiators that local financial institutions can leverage.

The smarter marketing move is grabbing the notion of financial wellness and using it as a core brand position and a centerpiece of a healthy life. It’s something that the national banks can’t easily replicate and it resonates deeply with what consumers really want out of their financial institutions, especially right now.

Financial wellness isn’t just feel-good fluff, it’s the foundation of how consumers think about their money, careers, and future outlook.

A staggering 83% of Americans say that money is a significant source of stress in their lives, according to the American Psychological Association. At the same time, 76% of people categorized as financially vulnerable report experiencing high or moderate levels of stress from their finances, via the Financial Health Network. Time and time again, studies link financial strain to anxiety, depression, and even relationship conflict.

For marketers, the goal here shouldn’t be to try to solve a mental health crisis, but to understand that money is a deeply emotional issue for customers. Most individuals expect their institutions to acknowledge this reality rather than breezing past it with a quirky ad, and it’s community banks and credit unions that are uniquely positioned to address it. They’re local, relationship-driven, and capable of reaching consumers where they live, rather than shouting from a national stage.

Certain credit unions are ahead of the curve, already integrating this approach into their marketing plans. The key, they’ve discovered, is putting the human experience first and treating it as the primary visibility point across your marketing footprint.

For many credit unions, the stated reason for being is to help the local economy and
community – starting with the well-being of the people who actually live there. For many, this transcends the typical “value” speak, becoming an integral part of the overall brand story. When customers hit rough patches — which we all do from time to time — credit unions often work hand-in-hand with them in order to find a clear path forward. They recognize that when individuals succeed, the whole community thrives.

The key opportunity for marketers is to take this same attitude and approach and build entire campaigns around them. That means testimonials, case studies, and real-world content that shows rather than tells.

Based on what’s working for institutions that have embraced this positioning, three marketing strategies stand out:

Education as brand identity

Financial literacy programs aren’t a novel idea, but few institutions leverage them as key components of their marketing strategy.

Ryan Marosy, Vice President of Marketing at Affinity Federal Credit Union, has taken a different approach: “Good money habits start early. That’s why we partner with elementary schools to teach kids how to save and manage money. Financial wellness today builds mental wellness for life.”

This isn’t a community relations bullet point buried on a slide deck; It’s a brand-defining message that explains exactly what Affinity stands for.

Accessibility as differentiator

Ent Credit Union (becoming Wings Credit Union) offers financial coaching at nearly all 60 branches and virtually, free to members and non-members. Bree Shellito, Director of Financial Wellbeing, explains: “We know the biggest barriers to getting help are cost, accessibility, and the fear of being judged. That’s why we designed our financial coaching program to be approachable, flexible, and free. When people feel more in control of their money, they often feel more in control of their lives.”

That last line—control over money, control over life—is the kind of messaging that connects emotionally. It’s specific, human, and differentiating.

Proactive Outreach as a Proof Point

Affinity surveys members to identify who’s thriving, surviving, or struggling, then reaches out with resources before problems escalate. From a marketing perspective, that’s a concrete story you can tell: we don’t wait for you to fall behind; we reach out first.

Marketing leaders who want to capitalize on this strategy should focus on a few key changes:

• Audit existing programs: Many institutions offer some form of financial wellness program, whether it’s classes, counseling, or tools. You need to take a holistic view of how your marketing treats these initiatives, and identify whether they are core to the brand or mere window dressing.
• Invest in storytelling: Data on financial stress tells a powerful story, but what truly moves people is seeing how the institutions they trust are helping real customers navigate life’s difficult moments. Create a pipeline to capture, document and elevate these authentic stories.
• Own your local credibility: National banks might have considerable marketing might, but they can never out-local you. Ensure that your marketing plans reflect your close ties with the community, involvement with schools and nonprofits, and highlight the relationships you and your team have built over the years.

Financial wellness isn’t a trendy term, it’s a true reflection of the realities of being a consumer in the modern age. Today’s consumers are stressed, skeptical of big institutions, and seeking out smaller, often local financial institutions that feel like family rather than vendors.

Community banks and credit unions operate this way by default, giving them a distinct advantage and opportunity to improve mental health for both individual customers as well as the overall community. The real marketing opportunity is how you let people know it.