How credit unions should market to millennials

by extra credit

by. Larry Meador

Millennials constitute the largest generational group mankind has seen since the Baby Boomers. This generation – also known as Generation Y – is made up of individuals born between 1982 and 2001.

This group is now between 13 and 32 years old and is a prime target for new business strategies, with a documented 84% of them currently seeking financial advice. The next time your credit union is targeting the financially conscious Gen Yer keep these three factors in mind.

Understand Their Values

Members trust credit unions over large banks because their money is circulated within a niche community – extremely appealing to Millennials because, typically, their generation enjoys feeling “authentically” connected and appeals to their sense of making a difference.

At least 61% of Gen Yers feel that it is their responsibility to make the world a better place, and it’s a credit union marketer’s job to take advantage of this insight by highlighting information for members that demonstrates that by being a member they are affecting their local community in a positive way.

Cater to Their Needs

When conceiving your marketing strategy for Millennials consider where they are in life.

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