DENVER – "Stop speaking in bank language." When it comes to working with a younger age group than many credit unions are used to, nixing financial terminology was one piece of advice offered by speakers at the America's Credit Union Conference and World Credit Union Conference in Denver.
Working with millennials was a topic repeated multiple times at the four-day convention. With 2.5 billion millennials in the world – one-third of the population that now surpasses baby boomers – speakers helped credit union executives get up to speed with the younger generation that will prove to be the lifeblood of many credit unions in the future.
Their first piece of advice was to hire millennials and convince them that they have a place on the board. Having younger staff present a report to the credit union's board of directors once a quarter is essential for understanding the millennial generation, and how they work, think, live and, ultimately, how they bank.
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