Learn how to get Gen Z's to your credit union!
Jun 04, 2024![Best marketing ideas for credit unions](https://kajabi-storefronts-production.kajabi-cdn.com/kajabi-storefronts-production/file-uploads/blogs/2147510571/images/6cc16-cb6c-6047-4a5d-70352bdcdfad_genzblog.png)
A New Generation of Credit Union Members
2024 has shown us that credit unions need more liquidity due to growing loans and dwindling deposits. Adding to the pain, Millennials and Gen Z prefer national banks and digital-only neobanks. But hope is not lost!
Your Credit Union has unique strengths that can attract these younger generations.
- Lower Fees and Personalized Service: Credit unions offer lower fees and more personalized service than traditional banks. Highlighting these benefits can attract younger members.
- Building Trust through Social Media: Engaging content on social media can help build trust. Sharing real stories and testimonials makes credit unions more relatable.
- Promoting Social Responsibility: Credit unions' not-for-profit status and commitment to social responsibility resonate with Millennials and Gen Z, who value ethical and community-focused businesses.
Tailoring Financial Products
Consider adding products and features that align with the financial habits of younger generations:
- No Minimum Deposit Requirements: Flexible account options attract young savers.
- Automatic Savings Options: Tools that automate savings are appealing for easy financial management.
- User-Friendly Digital Experiences: Intuitive mobile apps and online platforms are crucial.
- Automated Loan Applications with Instant Decisioning: Simplifying loan applications enhances convenience.
Focusing on Education
- Educational Content: Blogs, webinars, and social media tips empower younger members to manage their finances effectively.
- Tailored Financial Products: Develop products for specific needs, like student loans and first-time homebuyer programs.
How to bring it home to your Credit Union?
Take a close look at your credit union and identify one key area where you can make an impactful improvement to attract and retain younger members.