Can anyone really argue that 2009 will be remembered as the yearof missed opportunities for the credit union marketplace? By thespring of 2009, the word “bank” had become a four-letter word inthe eyes of most Americans.
Just as credit unions were set to have a generational moment ofopportunity, our “allies” and “advocates” at many corporate creditunions and the outdated commercial lending limits imposed uponcredit unions snuffed out any real renaissance. Late in the year, Ireceived an e-mail from CUNA touting a white paper on “youthmarketing.” I laughed out loud. A white paper? What is this 1999?That followed the news that smaller corporates met in Las Vegas todiscuss what is wrong with them. They edged out of the realm ofhubris into the undeniable realm of stupidity.
If there is any real renaissance occurring, it is in thesub-billion dollar credit unions that have figured out that thebloated world of CUNA, the NCUA and the corporate credit unions hasserved to slow rather than propel the credit union movementforward. Here at Chetco FCU we are coming off a second outstandingyear in spite of, not because of, our corporate credit union, theNCUA or CUNA. We have a youth immersion strategy that started inthe early 2000s to deliberately and intentionally engage Gen Y andtheir parents. We don't issue white papers.
This spring we will have our second round of concerts for financialliteracy that we invented at Chetco FCU and then took nationwide tohigh schools and colleges. You can read a white paper if youprefer, but we are going to put on live rocking musical events thatstress our brand and financial literacy.
Gen Y turns 30 in 2010 and credit unions all over the countrycontinue to talk, read and brainstorm ways on how to lower theirmedian age. Chetco has cracked the code, and we are willing toshare our success with other credit unions.
AmeriChoice FCU, Mechanicsburg, Pa., will be having its fourthconcert for financial literacy produced by Chetco FCU and EloquentOnline this February. I promise you on that day in February,Americhoice, another sub-billion dollar shop, will have the raptattention of more Gen Y'ers than any other credit union in thecountry .
Thankfully, smaller, forward-thinking credit unions are still outthere innovating and adapting to a new marketplace and a new typeof member who will never own a checkbook or read a newspaper ad. AtChetco FCU, we are already contemplating what we call “Chetco2020.” It is our plan to be ready for the next new decade when theKarate Kid is in his 50s and white papers (and possibly CUNA) are athing of the past.

Jason M. Dias
VP Marketing
Chetco FCU, Harbor, Ore.
President
Eloquent Online.net