PSCU Financial Awards $250,000 to Filene to Research Young Persons' Spending Habits

ST. PETERSBURG, Fla. – The spending power and habits of people under 30 will be the focus of a new research project from the Filene Research Institute and PSCU Financial Services. PSCU Financial Services has awarded a $250,000 grant to Filene to partially fund a new Filene research initiative examining financial issues facing young adults and young families. The grant will be used to fund research focusing on credit union members and potential members under age 30. Some of the topics to be studied are first-time used car buyers; first-time homeowners; and building trust with younger members, said Tom Dorety, president/CEO of Suncoast Schools FCU and chairman of Filene. PSCU Financial President David Serlo said the grant will help support programs that will impact the future of the credit union movement. Without the borrowing power of younger members, the average credit union "stands to lose an estimated $14 million in lost loans over the next 10 years," according to a 2003 Filene report, Attracting and Retaining Young Adult Members.