Credit unions have a pretty exciting opportunity every April, and this year is no different. April is celebrated as credit union youth month. The theme in 2018 is The Science of Saving.
According to CUNA, “you can create a lasting relationship with your youngest members by helping them focus on an optimistic and hopeful future full of awesome possibilities, then empower them to make it happen using the science of saving.” Sounds exciting, right?
As your board looks at strategic considerations and the future of the credit union, you need to include the youth in your communities. That doesn’t just mean a coloring contest or giveaways at thresholds of savings accounts for the very young — you also need to consider the following questions: How do you really attract and retain teens who are moving toward making their own purchasing decisions? What products do you offer for young adults who are looking at their first credit card, car loan, or home purchase?
All of your younger members are important. When you are engaged in discussions of the credit union’s products and services, make sure you ask how the youth and young adult segments are being served. Being online and having a mobile app may not be enough strategy … think outside the usual “youth month” box to increase engagement. Afterall, who says adults can’t be in the Youth Month coloring contest?!