The lack of young credit union members has been a hot topic for awhile. A growing number of credit unions and leagues are taking this potentially industry-ending issue seriously and are actively pursuing younger members. But what are credit unions doing to attract, retain and reward the future leaders of the industry?
It is well-documented that the average age of a credit union member is fast approaching 50, more than a decade older than the average age of the general population. I would hazard a guess that the average age of a credit union employee is equally as old. In addition, Gen Y is less likely than baby boomers to stick to a single industry for their careers. Before we give up, a number of signs of hope have emerged recently.
Sign #1: An ever-expanding group of young credit union advocates are online writing, debating, chatting and even singing about the power of credit unions. Social networks including Twitter, Facebook and LinkedIn are chockfull of credit union people connecting and collaborating. Numerous live Internet radio and video shows have popped up talking about credit union issues. There are a number of credit union bloggers making their ideas and opinions known. People are even live blogging from the traditional conferences that used to be the sole domain of our white-haired CEOs and directors. There is a palatable sense of urgency, unrest and passion brewing.
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