3 common-sense ideas and one possible surprise.
by. Kait Vosswinkel
Advice on capturing the attention of Millennials ranges from cool to crazy, but it’s no wonder many credit unions—with their aging memberships—are concerned. A lot of CUs are stepping in the right direction and, as a 20-something, I want to offer three bits of common sense about marketing to me.
First, financial education is essential, and it can be used as an outreach tool. $1.8 billion University of Wisconsin Credit Union, Madison, Wis., sets a wonderful example of how successful financial education programs can build a young membership base.
Since 1931, University of Wisconsin CU has been known for its partnership with the public university system in Wisconsin, and its average membership age is in the mid-30s, much lower than the CU average. The CU’s focus on education allows it to build long-term relationships with thousands of young adults every year.
“One of our most effective approaches is the financial education that we provide to students on campus. It’s not the fact that we do it; it’s how we do it,” says CUES member Jaimes Johnson, director of community and campus relations at UW CU. “We provide education through financial specialists who have lived the life of a student themselves. The people delivering the content have been there.”continue reading »