The Echo Boom Crosses the Digital Divide: Guest Opinion

More importantly, they expect credit unions to be there to serve them digitally by putting information at their fingertips 24/7. This population, comprised of 70 million young adults 18 to 35 years old, is the market segment that will sustain credit union growth and relevance over the next 20 to 30 years. Fortunately, they also happen to embrace the same values that credit unions were built on: trust, community and service. Therefore, credit unions can be perfectly poised to meet the demands of these coveted consumers when they go shopping for financial services, provided they are able to deliver digital financial services.

Without question, opportunity for growth in this segment is abundant. Credit unions added a record setting three million new members in 2012. Now the challenge is to delight these members with engaging and innovative services that exceed their expectations for convenience and value. But it is important to note, that while younger consumers are driving early adoption of mobile technology, mobile is expected to quickly become an essential service for consumers of all ages. So, for a number of compelling reasons, now is the time to move.