CUES Credit Union Management—But it’s not impossible. Part one, in a three part series. Aging membership is a real issue in the credit union industry. While the average age of a North American is 35, the average age of a U.S. credit union member has risen to 48.
The Financial Brand—To craft an effective marketing strategy for young adults, you have to start by tossing out all your assumptions, generalizations and stereotypes about this valuable segment. Attracting young adults has been a focal point across the aging credit union industry for the past decade.
CUES Credit Union Management—CUs can benefit from applying entrepreneurial strategies and bringing offerings more quickly to market. I was originally going to title this article, “The Lean Credit Union,” but that might give you the idea that it’s about reducing head count, hours or expenses.
CUES Credit Union Management—Consumers are looking for a solid place to put their money, convenience that offers accessibility, great service and great technology. Meanwhile, credit unions may be too hung up on trying to communicate the credit union difference, cooperative principles and not-for-profit status. Do these things even matter to the average Joe or Jill?
CU Water Cooler—I attended the International Co-operative Governance Conference at St. Mary's University in Halifax, Nova Scotia in early September. I was there with my Mount Lehman Credit Union Board Chair hat on and ready to soak up different perspectives and new ways of thinking about governance.
CUinsight—Over the past five years, I have had the pleasure of speaking at more than 40 credit union conferences in the United States, Canada, Mexico and Jamaica. It’s been a humbling and rewarding experience to share my stories to receptive audiences at state, national and international events.
CUES Credit Union Management—Just when you thought you had your head wrapped around the idiosyncrasies of Gen Y, the first of Gen Z will be graduating high school this year! What makes the next generation of young adults tick and what can your credit union do to appeal to this group?
CUinsight—Recently, I bought a new thermometer for our home. There was nothing wrong with our current model—it was programmable and did a fine job of controlling the heat and air conditioning. In fact, I had never given the subject any thought whatsoever.
CUES Credit Union Management—Strawberries and chocolate. Peanut butter and jelly. Ham and cheese. Sometimes a thing is wonderful on its own. But add another ingredient and you have perfection. So it is with marketing and IT.
CUinsight—I live in two worlds. On one hand, I am an entrepreneur who left my last real job 23 years ago to start a design and marketing agency. I traded the safe 9 to 5 long ago and have employed a small team ever since. Entrepreneurship is risky.
