ST. LOUIS — Building relationships with Generation Y is becoming a priority for Electro Savings Credit Union.

The $83 million credit union considers those born between 1977 and 1995 to be an important segment of their membership, said Stan Moeckli, president/CEO. During their annual member appreciation days, which are held the Thursday and Friday before the Memorial Day holiday in May, members are treated by the management team to hot dogs, ice cream, chips and soda. Gen Y employees at the credit union were included in the planning session for this year's appreciation event. Moeckli said they came up with some very timely ideas including having a shredding machine for those who wanted to safely dispose of personal documents. In the end, the credit union filled eight large bags of shredded paper.

“We're concerned about reaching that market,” Moeckli said. “If you can get [Gen Y'ers] early, the likelihood of having them as members for a long time is greater.”

Members of all ages look forward to the annual appreciation event and word typically spreads “real fast” often through the credit union's select employee groups, Moeckli said. In addition to food and drink, raffles for free tickets to St. Louis Cardinal games are held.

“I really enjoy talking to members. I can easily talk to 100 members [during member appreciation day],” Moeckli said.

While members that have been with Electro Savings for some time look forward to the event each year, Moeckli said newer members are generally surprised that the credit union is taking the time to honor them.

“They're surprised when we tell them it's for them,” he said. “Everyone needs to be appreciated. If it wasn't for members, there would be no credit unions.”

Just as important are employees. Each year, the week before member appreciation day, the management team will serve employees breakfast complete with eggs, bacon, sausage and potato casseroles. After all, “it's the staff that takes care of the members,” Moeckli pointed out.

Looking ahead, Moeckli said the credit union is considering adding more products and services tailored to Generation Y. No doubt those future member appreciation days might include a twist tailored just for them as well. –msamaad@cutimes.com

Instant Insights /

Electro Savings CU Doesn't Forget Younger Members

Related Stories

Recommended For You