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Lack of Young Blood Runs Deeper Than Membership

"What are credit unions doing to attract, retain and reward the future leaders of the industry?" Guest Blogger Tim McAlpine asks.

By Tim McAlpine | Updated on August 19, 2010

The lack of young credit union members has been a hot topic for awhile. A growing number of credit unions and leagues are taking this potentially industry-ending issue seriously and are actively pursuing younger members. But what are credit unions doing to attract, retain and reward the future leaders of the industry?

It is well-documented that the average age of a credit union member is fast approaching 50, more than a decade older than the average age of the general population. I would hazard a guess that the average age of a credit union employee is equally as old. In addition, Gen Y is less likely than baby boomers to stick to a single industry for their careers. Before we give up, a number of signs of hope have emerged recently.

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