For most credit unions, young adults have become thetarget market, according to the Filene Research Institute.
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In exclusive content from Fileneavailable to Credit Union Times' readers, James Marshall,leader of The Cooperative Trust, says by targeting the 18-24 yearold demographic, credit unions can create a lasting and profitablerelationship because they are potentially the future of theindustry's consumer base and of loan portfoliogrowth.
One key finding here is that 18-34-year-olds continue to use thebranch more than the average member but, as expected, they also useATM and online channels more than the average member, Marshallsaid.
|Read more on how credit unions can form long-term relationshipswith young adults and three key factors that are needed to retaintheir loyalty in Filene's full report, “NextGeneration Needs: Examining Credit Union Loyalty Among YoungAdults.”
|This is the third in a series of reports offered in thisexclusive relationship with the Madison, Wis.-based think tank.
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