In the tech tug or war for Gen Y, banks are beating credit unions

by The Financial Brand

Millennials overlook their philosophical principles in favor of more sophisticated technology when selecting a financial institution.

Research based on thousands of millennial social profiles shows credit unions miss opportunities to recruit millennials because they put technology first ahead of any other priorities.

Other millennial misses for credit unions? This generation seeks financial advice on forums — not Facebook. Credit unions’ content marketing and social strategies are off-target with millennials’ digital behavior.

The bottom line, according to the study by Digital Fieldwork: credit unions are failing to engage millennials online. This is one of the main reasons why millennials are the least likely demographic to join credit union members, despite sharing common philosophical values.

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