Gen Y, 76 million strong, will play a monumental role in what is projected to be, the largest transfer of wealth in the coming decades. With the average age of a credit union member at 47, credit unions continue to struggle to attract younger members. It is imperative that we not only tap into this segment to add to our membership, but also for our leadership and especially for our volunteer base.

For a generation that wants everything here and now and thinks that a Facebook post is more important than a face-to-face conversation, we need to develop and harness the energy of these future volunteers. It will be detrimental to the future of credit unions if we do not understand and morph to meet the needs of this emerging membership segment.

How do we attract Gen Y? Not just as members, but as leaders and volunteers. The answer, well part of the answer is get them involved. A couple of ways to do this is by creating a young adult advisory committee, junior board members or just recruit Gen Y members to your board. What better way to move your CU forward and meet the needs of the generation that is in their peak borrowing ages of 25-44, than to have representatives from that group in the room when those decisions are made?