At 80 million strong, Gen Y will soon control the nation's wealth, posing a mammoth opportunity for credit unions. Born during the early 1980s and the late 1990s, the group is more than three times the size of Generation X and exerts major influence on American culture.
To attract and truly retain Gen Y members, credit union staff must follow their lead. Often, this may mean adding a next-generation twist to traditional products and services. Other times it will mean adopting new modes of operation or technologies.
Gen Y members have very different expectations than any other generation credit unions serve. For example, making time for chit-chat is not a priority for them. They much prefer to hunt down information themselves, skipping the bother of talking to someone.
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