According to Filene, Lear's work at the Center will focus on the following:

Identify emerging capabilities in both physical and digital channels to reach and convert millennials and Gen Zers into members.
Identify how products and services will need to evolve and what investments are necessary to meet the financial needs and build trust with the most diverse, multi-ethnic consumer base in history.
Investigate what promising growth opportunities exist that can simultaneously protect credit unions against fintech incumbents while driving revenue and membership growth.
Explore key infrastructure requirements to enable personalization of offers and optimization of the member experience to drive higher relevancy and conversion.
Test marketing strategies and tactics to identify which approaches strengthen brand identity, reinforce value proposition, build loyalty and establish clear points of market differentiation.

The launch of the new Center of Excellence comes as a survey released Thursday by the digital banking solutions Apiture of more than 2,000 banking customers found that consumers are not happy with their primary banking institution. "Although 80% of Gen Z and 75% of millennials have chosen a large bank as their primary financial institution, roughly half of younger consumers are willing to switch to a community bank (52%), online-only institution (50%) or credit union (47%)," the survey stated.

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Filene to Focus On CU Member Growth of Millennials & Gen Z

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