Credit unions: Demography is destiny

There’s an old expression that keeps coming back to me lately: Demography is destiny. It’s often used in political and economic circles to suggest that the makeup of a population shapes what’s possible in the future.

I believe it applies just as strongly to the credit union movement. If we want to grow, stay relevant, and fulfill our mission in the years ahead, we need to look at who’s in our communities—and who isn’t in our lobbies, our call queues, or our digital platforms.

Demographic change isn’t something we can prepare for down the road. It’s happening now. And the credit unions that recognize and respond to these changes will thrive. The ones that don’t may find themselves drifting into irrelevance—not because they lacked heart or good intentions, but because they failed to align with the people around them.

Across the country, we’re seeing massive shifts in who lives in our communities and what they need from financial institutions. Let’s take a quick look at some of the biggest trends:

These trends aren’t political or theoretical—they’re playing out every day in our schools, neighborhoods, and local economies.

If we’re honest, some credit unions are well-positioned for this future. But many are still built around shrinking, aging, and increasingly narrow membership bases. That’s not a sustainable strategy.

The credit union movement was built to serve the working class, the underserved, and people of modest means. And in many places, we still do. But let’s acknowledge something difficult: some credit unions have drifted away from that purpose over time.

We’ve become really good at serving the “already served”—folks with high credit scores, stable jobs, and established financial habits. That’s not wrong. But it’s incomplete.

Across the country, there are millions of hardworking people—many of them new Americans, gig workers, single parents, or young adults—who live paycheck to paycheck and still rely on check cashers, payday lenders, or no one at all. These are the people our movement was designed to help.

The good news is, credit unions are still incredibly well-suited to meet their needs. But it requires being intentional. It requires looking at our field of membership, our products, our branches, and even our culture through a different lens.

This isn’t about doom and gloom—it’s about clarity and opportunity. I’ve worked with hundreds of credit unions, and I can tell you with confidence: the ones that lean into demographic alignment are finding growth, impact, and relevance. Here are some strategies to consider:

Start by asking a simple question: Does our membership reflect the community we’re chartered to serve? If not, it’s time to dig deeper.

Use demographic tools like PolicyMap, U.S. Census data, or CDFI mapping to understand who’s out there—and who you’re not reaching. You might be surprised at how different your membership looks from the neighborhood around your main office.

Awareness is the first step to action.

Different people have different financial needs. A young, first-generation college student doesn’t need the same services as a retired teacher or a small business owner.

Credit unions that grow are the ones that build products, marketing, and delivery channels that speak to specific needs—whether that’s ITIN lending, early payday access, credit-building tools, or mobile-first platforms.

Outside our industry, fintechs like Chime have figured this out. They’ve grown by offering targeted, transparent solutions to underserved younger consumers. They’re not doing anything credit unions couldn’t do—we just need to be more intentional about it.

We don’t need to get caught up in the politics of “DEI” to understand this: people trust institutions that reflect their own experiences. That means having staff, leadership, and board members who come from the same communities we’re trying to serve.

Representation builds trust. Trust builds membership. Membership builds momentum.

Sometimes, our legacy holds us back. We stick to familiar neighborhoods, legacy SEGs, or historical markets even if they’re shrinking.

Instead, look at where new development is happening. Where are families moving? Where are new schools, churches, or employers located? Where is the need—and the opportunity—greatest?

You don’t always need a branch to be present. You just need a plan, some partners, and a willingness to show up.

Let’s be honest: we’ve all seen the headlines. Mergers are accelerating. Some credit unions are thriving; others are coasting on the momentum of past decades. But in this environment, coasting is risky business.

If your membership is aging, your market is shrinking, and your brand is invisible to the next generation, it doesn’t matter how strong your financials are today. Long-term relevance is built on alignment—with purpose and people.

Credit unions that choose not to evolve may not be around in 5 or 10 years. It’s not personal. It’s just math.

Here’s the good news: we don’t need to reinvent ourselves. We just need to remember who we are.

Credit unions were built to meet the needs of people who were left out of the financial mainstream. That spirit is still alive—and the need is still enormous.

If we listen, show up, and align our strategies with the realities of today’s communities, we can reclaim our role as the most trusted, accessible, and mission-driven financial institutions in the country.

Demography is destiny. But it’s not fixed. We still get to decide how we respond.

Let’s choose a future where we grow with our communities—not apart from them.