Matt Dean and Doug Williams from

& the OPEN SOURCE CU blog/podcast

Building Relationships With Gen Y

Hi there.

Meet Gen Y.

Depends on who you ask.

Who’s Gen Y?

1980 to 1995 1976 to 2000

Depends on who you ask.

Who’s Gen Y?

1980 to 1995 1976 to 2000

For the mathematically challenged, that’s either 13 to 28 or 8 to 32

from www.victorhousefilms.com

This is how financial institutions look to Gen Yers:

The numbers say CUs have a built-in advantage in appealing to Gen Y... well, at least the Gen Yers who

know us.

Member Satisfaction Levels: National Norms for Comparing Local Survey Results, Second Edition (2002), Filene Research Institute, Pub #: 1752-78, p. 15.

Member Satisfaction Levels: National Norms for Comparing Local Survey Results, Second Edition (2002), Filene Research Institute, Pub #: 1752-78, p. 15.

Takeaways: How can credit unions be more attractive?

43 21Offer products that fit.

Simplify your brand.

Stimulate and facilitate conversation.

Stand for something.

1Offer products that fit.

Low limit Credit Card products to start out - coupled with financial education.

Electronic Rewards High Yield Checking

Gen Y is rate savvy.

Keep-the-Change-type “round up” savings

What other financial services are proving attractive to Gen Y?

Is P2P lending really that new?

Is “thrift” a new concept?

2Simplify your brand

Generation Y trendsetters are more drawn to brands that speak to them in a “straightforward and stripped-down way,

use plain packaging, and avoid excess”

Source: MediaPost & Outlaw Consulting

Think ING Direct.

Simplify your vocabulary.

Which is more intuitive?

“Wealth Management” or “Financial Check-up”

“Assets” or “Money”

Simplify your presentation.

3Stimulate and facilitate conversation.

Consider using social media.

As part of using social media, credit unions should consider User Generated Content (UGC) in

marketing campaigns.

Results after 120 days

28 Print Articles

11 TV segments

+ 7 Radio segments

Results after 120 days

28 Print Articles

11 TV segments

+ 7 Radio segments

2.1 million impressions

400 brand mentions

Total Value: $180,000

4Stand for something

The best kind of Cause-Marketing:

•Relevant to your brand

•Local

•Produces tangible results

43 21In conclusion...

Offer products that fit.

Simplify your brand.

Stimulate and facilitate conversation.

Stand for something.

Questions?