Paul Newman, millennials and the CU passage to lending in the future
What credit unions can learn from a salad dressing brand.
Have you ever tried Newman’s Own salad dressing? Most of us have at one point or another and, if you haven’t, chances are you’ve heard of it. It’s owned and operated under the Newman’s Own brand—a brand that gives 100% of its profits to charity. Since its conception in 1982, the organization has donated more than $525 million to charity. What a fine example of a company that believes in people helping people!
Companies like Newman’s Own are typically what millennials flock to based on their philanthropic efforts. However, millennials could actually be fading the Newman’s Own brand out. Sure, this company has droves of loyal fans out there, but with more than 80 million millennials in the consumer space, every brand needs buy-in from that group to survive.
What’s the hang up? What is keeping millennials from relating to Neman’s Own and jumping on board to support this grand philanthropic effort?
The answer lies with what made the brand popular in the first place: Paul Newman, himself. Yes, Paul Newman, whom most of us know as the beloved actor who starred in dozens of film classics including Cool Hand Luke, The Sting, and Butch Cassidy and the Sundance Kid, and who launched the brand and continues to be the brand’s image.
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