The pundits have made quite a living from scaring credit unions into Millennial-oriented products. Mobile banking, mobile wallets and NFC are all great products. There’s just one problem: The Millennial audience doesn’t have enough disposable income to take that first bite of the credit union’s apple.

All the mobile banking in the world won’t bring a horde of underbanked Millennials to a credit union’s door. And guess what? Not having mobile banking isn’t preventing them from visiting. They simply don’t have the money to get started!

Credit union managers – let’s not all weep at once. The Millennials are missing out big time, too. They have little to no exposure to financial basics – like shared draft accounts, budgeting and nickel-at-a-time savings plans. Case in point – my Millennial son who thought that standing in line to buy money orders was the best way to pay his bills.

What’s the scariest part of the story? Every time I tell it to the parents of a Millennial, they nod their heads and tell me, “Mine, too.”

Given that the last enlightened generation – the Baby Boomers (and the small and over- indulgent Gen X, the group between the Boomers and Y) – whose finances have been challenged by difficult economies and overall poor planning, what hope do we have for the Millennials’ financial future? They will awaken to financial reality later than any generation before them. As a result, they are guaranteed to have even fewer assets saved for retirement when they need them.

All the talk about banking channels ignores one simple fact – the Millennial generation needs credit counseling more than anywhere, anytime banking. They need knowledge. They need tools to model their future. They need advice. They need products that will help them escape their financial black hole. They need ongoing support.

Does your credit union want to attract and retain the Millennial generation? These ideas might be the most effective way to do it.

Robert Bessel is public relations director for COCC Inc. in Avon, Conn.