Thank you for sharing!

Your article was successfully shared with the contacts you provided.

As member ranks continue to mature, the challenge to bring in new members remains a constant. Currently, the average age of a credit union member is in the late 40s, according to the World Council of Credit Unions, and is part of a generation that grew up with a litany of things millennials have no idea about. Instead of looking at this challenge as an “us versus them,” credit unions need to embrace one of the largest purchasing powers bursting onto the scene today.

As some millennials begin hitting their mid-thirties, they will need all the financial products and services thirty somethings have always desired. The question is, how do you reach and connect with them? Millennials want purchase options. They are attracted to leasing, as it fits their budget and puts them in the driver’s seat of their favorite auto brands. Nationwide leasing accounts for 28.9% of all new car purchases for this age group, which represents a 46% jump in leasing by millennials over the last five years as reported by Forbes Magazine. Overall, leasing increased by 41.7% during this same time period.

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?

Dig Deeper


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
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.