Credit Unions Focus on Gen Y Relationship Building
Credit unions’ Gen Y-related challenges extend beyond grabbing their attention. Once a credit union gains young members, it has to convince them to stick around. Even after they’ve committed themselves, their impact on the credit union may not be 100% positive. Since many young adults lack expertise in personal finance, they’re a risky demographic to lend to.
As competition for Gen Y’s attention grows tougher, focusing on deepening young member relationships and helping them become a more financially sound group is key, several experts say.