ARLINGTON, Va.-In its most recent Flash Report survey, NAFCU found that credit unions use demographics to get the most-and give the most back to-their fields of membership. According to the Flash, 62% of respondents said they offer special products and services targeting their more senior members. More than a third (36%) offer information in a foreign language, mostly (80%) in Spanish. Other languages reported include Vietnamese (7%), Korean (4%), and French, Portuguese, and Russian (3% each). Age groups are one particular way credit unions break down their memberships, the Flash discovered. Students are the targets of 29% of credit unions, while 22% are focusing on 18 to 24 year olds. There has been a great deal of talk lately among credit unions about slowing membership growth and looking to the future, so therefore targeting a younger audience is key. Baby Boomers, who are or will soon be retiring, are targeted by 13% of the respondent credit unions. Eleven percent cited the low-income community as a target, while high net-worth and youth are sought out by 10% and 5%, respectively. The fastest growing portion of 34% of credit unions was the 25-34 year olds, but another 27% said it was 35-44 year olds. Those just out of high school and college trailed at 15%. The most popular first loan for credit union members at 77% of the institutions was a vehicle loan. Twelve percent said it was a credit card.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.