Tuesday, November 4, 2014

CUNA Lending Council Crashers lay down some straight talk...

We caught up with a couple of CUNA Lending Council Crashers for some straight talk about what drives their generation to chose one financial institution over another.

We asked...

  • What are financial institutions missing that would otherwise make them more attractive to you and your millennial peers? 
  • What do you or your peers care most about at your financial institution of choice?
  • How can credit unions adapt to make themselves more appealing to younger generations today and with generations to come?

They told us straight...

The answers we heard confirm what we've always known on one level, but also remind us not to forget about the real and human elements that are, and always have been at the center of the credit union idea. 

Julia Boldina, Operations Manager, NYC Federal CU

Keep up with technologies at other FIs
Embrace Apple Pay
Gen Yers still want to talk F2F with someone

Renee Mullins, Lending Consultant, Call Federal CU

Convenient technology matters
Social media connection matters
Local businesses supporting local economy and giving back matters

Amanda Kissner, Loan Officer, Wakota Federal CU

Technology and easy processes 
Focus on the values of the cooperative movement
Stay local and team up with other like-minded businesses

Credit unions--what I'm hearing is that this is our game to lose. Younger generations may want the best of both worlds when it comes to fast, convenient technology and local, socially responsible practices, but that's good news to a business that can offer both.

Learn more about the CUNA Lending Council Crashers.
Learn more about Filene's The Cooperative Trust and Crasher Program.