Building
Relationships
With Gen Y
Matt Dean and Doug Williams from
& the OPEN SOURCE CU blog/podcast

Hi there.
Meet Gen Y.

Who’s Gen Y?
Depends on who you ask.
1980 to 1995 1976 to 2000

Who’s Gen Y?
Depends on who you ask.
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?
1
2
Offer products that fit.
34 Simplify your brand.
Stimulate and facilitate conversation.
Stand for something.

1
Offer 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?

2
Simplify 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.

3
Stimulate 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

4
Stand for something

The best kind of Cause-Marketing:
•Relevant to your brand
•Local
•Produces tangible results

In conclusion...
1
2
Offer products that fit.
34 Simplify your brand.
Stimulate and facilitate conversation.
Stand for something.

Questions?