MONTREAL – Credit unions face stiff competition when it comes to wooing today's consumers, who have become accustomed to instant gratification in a digital world. In fact, investments made by the financial technology (or "fintech") industry have tripled from $4 billion in 2013 to $12 billion in 2014, and the majority of those investments are made with millennials in mind.
Mollie Bell, chief engagement officer for the Madison, Wis.-based think tank Filene Research Institute, shared this alarming statistic, plus offered pointers for how credit unions can successfully market their products and services online, at NAFCU's annual conference in Montreal Friday.
"Credit unions need to have a plan for how to win over the hearts and minds of millennials if they still want to be around in 20 years," Bell said.
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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.
