HOUSTON — The urgency to court Generation Y continues to reach a high pitch among credit unions. However, nontraditional outlets such as music and concerts may be another way to help woo this group of 30 million.
That was the message from keynote speaker Jason Dias, president of Eloquent Online, a marketing firm, who spoke at the African American Credit Union Coalition's conference yesterday evening on how creative credit unions should be in attracting those born between 1983 and 1997.
With a lively presentation peppered with music from all genres, Dias implored attendees to consider taking their credit union message online with live streams, revamping their branches so that they appeal to a younger audience and setting up profiles on MySpace and Facebook. In addition to establishing financial literacy connections with local schools, Dias suggested credit unions holding concerts there to create brand awareness. In three years, one out of four Gen Yers will be old enough to drive, he pointed out.
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"If you don't replace aging borrowers with young depositors, you will not be around," Dias warned. "History is change. If you don't believe me ask, K-Mart or Montgomery Ward."
Dias said the so-called "Hannah Montana" generation will make or break a credit union if they choose being proactive or complacent. He suggested going where Gen Yers are, and "taking your brand to places where you would not take your board" such as on Facebook.
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