2013 Watch: Gen Y in the Year Ahead
The notion that credit unions need to increase their young membership in order to survive is a no-brainer. In 2013, the question won’t be whether credit unions should make a conscious effort to attract Gen Y. It’ll be: How can they do it in a way that hasn’t been done before?
Faced with a rapidly growing population of tech-savvy young adults, credit unions will begin developing more niche products for this demographic. Simply having a Gen Y-geared checking product and a Facebook and Twitter account is no longer sufficient. To stand out from the crowd, credit unions will need to take on creative initiatives, such as launching a new incentive-packed program or hiring an ambassador to reach out to young folks in their communities.