Gen Y is going to be spending $2.45 trillion annually by 2015, and credit unions that want a piece of the pie will have to look at their lending product offerings to see whether they match young people's needs and expectations.
That was the message from Shelly Vils, senior manager of credit union training at CUNA Mutual, during her session on lending to Gen Y at the online Discovery conference on Wednesday.
Vils said credit unions don't have to necessarily create new products and services to serve Gen Y–they can repackage an existing loan in a new way to appeal to young people.
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