All credit unions know their futures depend on connecting with Gen Y, but it still seems they're having a tough time doing so.
According to a recent Filene Research Institute report, "Credit Union Market Niches: Social and Demographic Opportunities," challenges such as closed fields of membership, weak technology and even a misunderstanding of the term "credit union" stand in the way of nudging the average CU member age down from 47.
Some credit unions, however, are using creative marketing programs to build young membership and have been reporting positive results. The $668 million Vantage Credit Union of Bridgeton, Mo., for example, is making a splash with young consumers in the St. Louis area through its Gen Y outreach program, Young & Free.
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
