CUNA CPD's new book provides guidelines on marketing CUs to kids

MADISON, Wis.-CUNA's Center for Professional Development (CPD) has published a new book to help credit union marketers identify youths who need financial services. The book, titled "Marketing Across the Generations: Youths 0-19," also provides guidelines on how to establish long-term relationships with this group of "high-revenue, low-risk" potential members. Even though youths may not have jobs, do not own credit cards, probably don't yet need financial planning for assets and actually may not even drive yet in order to visit a CU lobby independently, still this is a group that warrants courting, officials said. "According to recent statistics, today's children and teen-agers possess spending and saving power unparalleled in previous generations," said CUNA CPD spokesman Dave Klavitter. The book gives tips on designing effective products and promotions that would appeal to youths, and communicating with them in language that is both professional and financially oriented, but still understandable to youngsters. The book has advice on how to develop savings clubs, youth branches, and education programs, and also on engaging parents as partners. And it even looks to the future, providing guidelines on managing the transition from youth to adult membership. "Reaching out to the youngest credit union members and teaching them about finance is such a large part of marketing to them," noted Heather Harris, chairwoman of the National Youth Involvement Board and assistant vice president of consumer education at State Employees Credit Union in Lansing, Mich. "This new book helps credit unions develop methods for connecting with young people when they're first developing their financial habits and attitudes." The book provides "snapshots" of successful youth marketing programs in CUs across America. At the end of each chapter there are hands-on suggestions on how to put suggested strategies to work for CUs. The NYIB supports youth involvement and education in CUs with a goal of increasing financial literacy. CUNA recently announced a five-year contract on a partnership with the National Endowment for Financial Education with a goal of providing financial literacy education to schools. "Marketing Across the Generations: Youths 0-19," written by free-lance writer and editor Karen Bankston, was produced in cooperation with the National Youth Involvement Board and is one of a four-part series that offer suggestions for marketing to different generations of members. To order, call CUNA customer service at (800) 356-8010, ext. 4157 and ask for #22900-JEM. -lide@cutimes.com