Search
 
Commentary

10 Ways to Grow Millennial Loyalty

To attract millennials, it's all about delivering value.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Many industries are grappling with how to build loyalty among millennials, but perhaps none face as many challenges as the financial industry does. With an addiction to mobile and digital services, a voracious appetite for rewards programs and strong aversion to fees, Gen Y has left many financial institutions scratching their heads.

jack henry and associatesAs the industry tries to catch up to changing consumer demands, it’s not surprising that an Accenture survey of more than 4,000 retail banking consumers in the United States and Canada showed 18% of millennials switching from their primary bank in the previous 12 months.

While millennials want innovative and convenient ways to manage their money, they are still concerned about the safety and soundness of their finances, and they need help finding the happy medium. Credit unions should seize this opportunity to step in as trusted financial advisors to this segment.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Recommended Stories

Still No Answers

David Baumann |

On what basis can a federal agency decide to use a secret process to award a bid that involved hundreds of billions of dollars?

Financial Planners, This Is Your Moment

Matt Schulte |

New clients are seeking out advice, and your existing clients need you more than ever. With some fine tuning, you can better serve them both.

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.