We asked 5 college students: Would you recommend your financial institution to a friend?
Carly, 22, Wells Fargo: I would! Their mobile app is awesome.
Mac, 19, Coastal Credit Union: I wouldn’t. I feel like I don’t love my bank enough, or I haven’t had a good enough experience that would make me recommend it. I’m not sure what it would take for me to start recommending it — I guess extra perks? It seems to me like all the banks are the same, and mine hasn’t really done anything to stand out.
Chapel, 22, Fifth Third: I wouldn’t. My parents have used Fifth Third for a long time. That’s how I got into it, so I guess I trust their judgment. I feel I just don’t know enough about my bank personally to make a recommendation like that.
Cy, 22, Fidelity: My bank slaps. No withdrawal fees for using other ATMS, very easy to open retirement accounts and stuff. I feel like they’re really helpful on all the stuff that’s important.
Carla, 22, Wells Fargo: They’re really convenient and helpful and there aren’t any fees, so I guess I would recommend my bank? Even though I kind of question their values as a company.
The average age of a credit union member is 47. What will that number be in 10 years? 20 years? One of the greatest challenges facing credit unions today is the question of bringing young people into the credit union movement.
But what if we aimed higher than just attracting the next generation of members? What if you could turn your youngest members into active promoters of your credit union? After all — the best way to attract new members has always been through referral.
Meet Zogo — we’re not a research firm or a market intelligence company. We’re a group of Gen Zers who believe in the credit union movement. In the past year, we surveyed over 500 college students. 76% of them didn’t even know what a credit union was – and we want to help.
Together, we built Zogo, a gamified financial literacy app that helps credit unions attract and engage Gen Z. Since then, our app has won multiple awards, including the 2019 NACUSO Next Big Idea competition and the best of show at Finovate 2019. As Gen Zers ourselves, we know how to engage this demographic — and we want to get them talking about credit unions. At Zogo, we’re working to make finance fun, simple, social — and irresistible to younger generations. To learn more about Zogo and how your credit union can partner with us to build the next generation of members, visit our website at www.zogofinance.com or schedule a demo with one of our committed onboarding specialists.
