CAMBRIDGE, Mass. — Credit unions that wish to attract more young members should start offering electronic bill payment, a service that is strongly favored by younger people, according to a new report from independent research firm, Forrester Research.

The report indicated that the number of households that pay bills online would increase to 63% by 2011 or 59 million households.

The Forrester report found that that younger people, part of the so-called “Generation Y” and “Generation X” lead the migration to the new electronic mode of payment, though boomers who began entering retirement this year, will come along too.

Even though younger people in the two generations represent only 26% of U.S. households, they account for 36% of all online bill payers, the report found.

The firm predicted that the number of “Gen X” EBPP users will increase by 42% during the next five years, while baby boomers will increase their use of electronic bill payment by 39% during the next five years.

As of 2001, “Boomers” represented 42% of all online bill payers, but by 2011 this segment will diminish and make up just 28% users of the service.