The year 2011 was one of growth and change for credit unions. Many CUs announced positive news, such as asset growth, improved loan performance and large bonus dividend payouts. The Bank Transfer Day movement increased membership numbers for CUs, and many CU newcomers are in their 20s and 30s. As 2012 begins, setting goals to boost your connection with Gen Y will benefit your credit union.
Understand the Gen Y mind. A recent article I read on MSN's careers site, "Gen Y's impact in the workplace," raised some interesting points on how Gen Y members approach their work lives. They may be job hoppers, but they demonstrate a strong work ethic in each job. They're technology dependent and communicate openly, even when it comes to once taboo topics, such as salaries. They expect to receive recognition for their good work.
Recruit Gen Y employees. Speaking of workplaces, what better way to integrate the Gen Y mind into your credit union than to have them work for you? The oldest Gen Y members are in their early 30s, equipped with experience and likely candidates for business management roles. Hiring Gen Y members could breathe new life into your credit union. A young social media manager, for example, could help bring your credit union the attention it needs from untapped Gen Y consumers.
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
