PR Insight: Don’t lose out on the “lost” generation
Gen X poses a golden opportunity for CUs.
When it comes to the topic of generations, there are waves of articles on millennials, focused on the differences between millennials and Baby Boomers, the pending generational wealth transfer and marketing to this younger demographic. More recently, the financial industry has also become concerned with engaging Gen Z.
However, one generation often gets overlooked: Gen X. Referred to as the “middle child” or “lost” generation, Gen X—those born between 1965 and 1980—tends to be neglected when it comes to discussions of wealth and financial needs. Like many industries, credit unions are missing this golden opportunity. (As a Gen Xer myself, I suppose I’m a bit biased).
Gen Xers are quickly approaching the peak of their earning potential and spending years, and while they may be fewer in number than other generations, there are still about 65 million people in this group that could be become a key demographic for growing a credit union’s membership and bottom line.
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