Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Products
MnCUN Filene collaborate on Gen Y research
ST. PAUL, Minn. (5/30/12)--The Minnesota Credit Union Network (MnCUN) has partnered with the Filene Research Institute to offer state-specific research on how Minnesota credit unions can attract and retain Gen Y members.

The analysis incorporates more than 10 years of young adult research conducted by Filene into opportunities and challenges facing Minnesota credit unions in serving Gen Y.

Using Minnesota demographic information, the Filene report outlines the distinct characteristics, behavioral trends and financial needs of 18-34 year olds in the state.

Keeping in mind the range in size and access to resources among Minnesota credit unions, the report makes "good, better, best" recommendations. Credit unions of all sizes can customize the recommendations to meet their needs, strategic initiatives and long-term goals.

Filene provided five primary recommendations:

  1. Identify the specific needs of Gen Y;
  2. Enhance young adults' awareness of credit unions;
  3. Enrich products that appeal to Gen Y members and meet their needs;
  4. Engage credit union employees in outreach strategies; and
  5. Measure success.
"This research helps to tackle the ever-growing challenge facing the credit union movement, which is how credit unions can effectively capture, develop and nurture the next generation of credit union members," Mark D. Cummins, MnCUN president/CEO. "More than just providing data on this problem, Filene's report takes the analysis one step further by offering practical action steps that credit unions can implement."

Working with the Filene Research Institute, a credit union advisory group helped to shape the report and ensure that it was practical for Minnesota credit unions.

Committee members included:

  • Harry Carter, TopLine FCU, Maple Grove;
  • Marty Kelly, U.S. FCU, Burnsville;
  • Bridget Moeller, Greater Minnesota CU, Mora;
  • Russ Plunkett, Postal CU, Woodbury; and
  • David Sawin, Minnesota Catholic CU, Little Canada.
In addition to the written report, Filene is delivering the research results in different formats, including a webinar series and video summary of the recommendations. Individuals can view the video online. Use the link.
Other Resources

RSS





print
News Now LiveWire
Which Children's Miracle Network Hospital is the winner of @CUDirect's 20 for 20 grand prize? Find out Tuesday.
6 hours ago
Gas prices have fallen for a record 88 days in a row says @AAAnews via @washingtonpost http://t.co/c52VTdqHEB
8 hours ago
.@TheNCUA releases regulatory modernization initiative results (PDF link) http://t.co/pgLZe4aget
9 hours ago
#FinCEN seeks nominations of FIs, trade groups for membership on Bank Secrecy Act advisory group http://t.co/l5w58c277W
10 hours ago
MI pediatric dentist pledges $20K match to Hurley Children's Hospital if it wins @CUDirect's 20 for 20 http://t.co/Eq2nIPm6jo
10 hours ago