WASHINGTON – PSCU's "Make Your Money Matter" program, a web and social media platform designed to reach out to millennials, grew from eight credit unions one year ago to roughly 250 credit unions now, according to Myles Bristowe, vice-president for consumer engagement for the nationwide payments CUSO.
"We've cracked the code for millennials," said Bristowe, who came as part of the PSCU team to CUNA's Governmental Affairs Conference in Washington. "We have researched what motivates millennials and what gets their attention and we are using that to help credit unions introduce themselves," he added.
For a monthly fee that ranges from a low of $199 to a high of $699, participating credit unions can access a suite of messages for their Facebook pages and social media accounts designed to get to millennials interested enough to click through to find out more and fill out membership or loan applications.
In the program's first eight weeks, Bristow said the original eight credit unions garnered 31 million visits to their Facebook pages and 4.l million responses to their twitter messages. Further enhancements to the program allow credit unions to track links millennials use to access content. Make Your Money Matter can also report how many users respond to messages, ask for more information or fill out an application, Bristowe said.
The program is open to all credit unions regardless of whether they are PSCU members and will include information from other credit union sources which might appeal to millennials.
"We don't believe we should be the only people doing this," Bristowe said. "When you get to know members or the millennial generation, you see they have a natural affinity for credit unions. We just have to help credit unions make themselves more known."
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