Now that I’ve been writing for Credit Union Times for more than a year, I consider myself decently well-versed in the credit union industry. But I remember being one of those young adults who was clueless about credit unions. Every time I passed by a credit union branch, I thought,...
Gen Y Back Talk columnist Natasha Chilingerian sheds some light on her generation. In this third part of six, she talks Gen Y's financial woes and products and services they want from their financial institutions.
Gen Y Back Talk columnist Natasha Chilingerian sheds some light on her generation. In this second part of six, she talks Gen Y's financial woes and products and services they want from their financial institutions.
Gen Y Back Talk columnist Natasha Chilingerian sheds some light on her generation. In this first part of six, she talks labels, age range and positive and negative stereotypes.
Of the many Gen Y nicknames one that really fascinates me is “trophy kids,” referring to the fact that when Gen Y members participated in activities as kids, where everyone was guaranteed a trophy. By receiving prizes even when their performance levels were poor, these kids avoided feeling like losers....
Gen Y members are similar to credit unions when it comes to politics. Not necessarily in their political viewpoints but in their depth of political involvement.
Before attracting younger members, you need to educate them on why they should join your credit union, which was one of the main goals for 2012 at my credit union.
As credit unions continue their Gen Y outreach efforts, they may want to take a closer look at the Hispanic market.
At 80 million strong, Gen Y will soon control the nation’s wealth, posing a mammoth opportunity for credit unions. Born during the early 1980s and the late 1990s, the group is more than three times the size of Generation X and exerts major influence on American culture.
It seems credit unions are doing all they can in their quest to build younger membership by introducing new products and services. But research still points to an overall industry struggle in the Gen Y market.