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Why CUs Must Embrace Digital Tech to Win Over Millennials & Gen Z

Don’t sit around and watch as your member base gets pulled away by rivals with more advanced technology.

By Brian McNutt | August 25, 2023 at 09:00 AM
hands of young people using mobile devices while sitting at outdoor table Credit/Shutterstock

After serving as the financial backbone for communities across the country for more than a century, credit unions are at risk of becoming irrelevant among the next generation of potential members.

That’s because they’re facing intense pressure from larger rivals that are woo’ing younger members with upscale digital technology, along with multibillion-dollar investments in artificial intelligence and other emerging innovations. Just 26% of Generation Z and 14% of millennials use credit unions, according to a recent GOBankingRates survey, with most opting to instead use a large bank or online financial institution.

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