MONTEREY, Calif. — Given their influence, assets, spending power and profit potential, baby boomers are worth attracting and retaining, according to a credit union industry expert.

Heather Thiltgen, vice president of Consumer Segment Programs at CUNA Mutual Group, told attendees today at the California-Nevada Credit Union League's Big Valley Educational Conference that baby boomers are influential with 78.2 million strong as the largest generation in U.S. history. They're also rich with $46 trillion in assets, $17 trillion in investable assets, $3 trillion in spending power, $750 billion in discretionary income and $489 billion in annual individual retirement account rollover dollars.

Based on her research, Thiltgen reported that baby boomers favor simple, customized options, are interested in staying young, healthy and active, list improving their community and the world as top concerns, believe experience and convenience are more important than price and remain focused on their families.

Thiltgen suggested building simple financial products that can be customized to a variety of needs and circumstances. Helping them save for sickness, based on their anticipated higher life expectancy and providing ways for them to finance their desire to stay young, such as home gyms, plastic surgery, dental procedures and travel are other ways to woo boomers.