How Credit Unions Are Reaching Out to Gen Y

Financial institutions know that in order to grow successfully, they need to have a strong presence among America’s youth. NerdWallet’s recent contest encouraged credit unions across the country to dream up innovative new programs to engage younger members, and we learned that many have already made great strides. So what exactly are credit unions doing to reach Gen Y?

Among other things, they hope to gain brand exposure, build technology to help compete with big banks, and give back to their local communities through financial literacy initiatives. Read on to find out more about how credit unions are putting young members first.

CUs at School

One of the easiest ways to capture a young audience is to maintain a presence where they spend the majority of their days: the classroom. Many credit unions work with local schools by offering classroom presentations, seminars and other activities that promote financial literacy.

CUs like Park Community FCU and Educators Credit Union offer classroom presentations on financial topics to local schools. Dakotaland FCU does the same, and partners with the South Dakota Farmers Union to offer students a financial education game called “Real Life Fortune”. In California, Patelco Credit Union was the first credit union to host “Bite of Reality”, a financial literacy simulation for students created by the Richard Myles Johnson Foundation.

Such programs aren’t limited to children either. Many credit unions actively work with high school students to help build financial skills before adulthood.

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