70% of financial caregivers say they would consolidate deposits with the bank that best supports their needs.

True Link’s 2025 study of financial caregivers¹, released today, found striking insights for banks and credit unions:

• 102 million Americans over 25 (45%) help manage the finances of a loved one. 28% help an aging parent or adult with a disability, while 24% help a child or teen (with 7% counted in both categories).
• Customers substantially reward a positive experience. 70% would consolidate deposits at a bank that provides strong caregiver support, they say.
• Their standards are high, though. For banks that were neutral, unhelpful, or very unhelpful, 97% of customers said they would look elsewhere for new products, while only 3% planned to add new products in the next 12 months. Among banks that were very helpful, 53% planned to add new products in the next 12 months. Only being “very helpful” produced a 17x loyalty increase.
• Banks did a poor job with kids and teens (a +6 promoter score) and a very poor job with aging parents and adults with disabilities (a -7 promoter score), relative to an industry average promoter score of +27². There is real room for improvement, especially for aging parents.
• And the banks whose brand promise relies most on empathy – credit unions and superregional banks – are falling short.

“The opportunity here is large,” commented True Link CEO Kai Stinchcombe, “but you have to do a genuinely good job. Most financial institutions think they’re helping, but from the family’s perspective, they are actually part of the problem.”

Among large banks, Chase was the leader, ahead of Wells Fargo and Bank of America. Wells Fargo scored almost as highly as Chase with teens, but had the lowest score among the big banks with seniors. Superregionals and credit unions were rated lower than any of the three largest banks.

“We suspect that this is a challenge of investment in technology,” said the firm’s Chief Strategy Officer Kara Brewer. “Banks and credit unions often do care, but offer a cumbersome process and, especially with aging parents, lack the product-led solutions families need.”

Caregivers are the customers that leading FIs are already investing the majority of their strategic attention on – 30% more likely to be mass affluent, 55% more likely to have a mortgage, 70% higher income, and 200% more likely to be a small business owner. With the willingness to consolidate business and add products, becoming a top performer for caregivers is an incredible business opportunity. This is particularly true for superregionals and credit unions, and especially true for aging parents or adults with disabilities – a larger market, less well served today, and with greater net worth to win.

About True Link:

True Link powers leading family banking experiences. With over a decade of proven impact and an 80+ NPS, the company’s platform is purpose-built to support older adults, teens, people with disabilities, individuals in recovery, and others who rely on trusted support to manage their finances. True Link helps banks, credit unions, nonprofits, government programs, and other partners offer customizable spending settings, caregiver-managed account features, and fraud prevention tools that help safely increase a family member’s independence. The company has served over 250,000 families and its subsidiary True Link Financial Advisors, LLC manages nearly $2 billion in assets³.

Learn more at www.truelinkfinancial.com/banks.

1 - The study surveyed a randomly-selected representative group of 2,500 American adults over 25. Full report here: 2025 Family Banking Report.

2 - https://customergauge.com/benchmarks/blog/financial-services-nps-benchmarks

3 - Investment management services are provided through True Link Financial Advisors, LLC, registered with the SEC. Registration with the SEC does not imply skill or training nor does it constitute an endorsement by the SEC. Assets under management with True Link Financial Advisors, LLC as of 12/01/2025.

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