Young & Free Report 2010

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Young & Free is a movement dedicated to attracting the next generation of credit union members. This presentation is an update on the progress made by early 2010.

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Young & Free Report 2010

  1. 1. Dedicated to attracting the next generation of credit union members
  2. 2. DeAndré Upshaw Young & Free Change Agent Currency Marketing @deandresays on Twitter (Actual member of Gen Y)
  3. 3. My generation Gen Y
  4. 4. anti hype technology confident spenders savvy cool goals college respect planning influence truthful authenticity distrust forward thinking family questioning quality media university wary friends fun world view connected anti hype technology confident spenders savvy cool goals college respect planning influence truthful authenticity distrust forward thinking family questioning quality media university wary friends fun world view connected anti hype technology confident spenders savvy cool goals college respect planning influence truthful authenticity distrust forward thinking family questioning quality cool truthful truthful
  5. 5. “ We actually believe we can change the world. Regardless of our agendas, beliefs, or reasoning, we believe that we can make the world better than previous generations have left it. We will change the course of history.” JORDAN FLORA GEN Y BLOGGER
  6. 6. 89 % Use social media sites regularly Source: The College Board Arts and Sciences Group
  7. 7. NOPE
  8. 8. See right “ through you like you’re bathing in Windex.” MARIAH CAREY “OBSESSED”
  9. 9. “ Don’t be stupid.” DEANDRE UPSHAW & OTHER GEN Y NOTABLES
  10. 10. Tim McAlpine President & Creative Director Currency Marketing @currencytim on Twitter (Gen Y Wannabe)
  11. 11. It’s a simple math problem
  12. 12. THE GREAT DIVIDE TEN YEAR GAP
  13. 13. 60 45 30 Credit union members aged 25 to 42 have dropped by 17% in the past two decades 38 of credit union members are aged % 25 to 42 15 Where are our future prime borrowers? 0 1985 1995 2003 2007 Source: CUNA Market Research
  14. 14. 10 8 5 4 % 1 3 07 1989 1996 % of the population is between 18 and 24 2000 2002 2006 of credit union members are between 2008 18 and 24 Source: CUNA Market Research
  15. 15. Based on 100 million members, the credit union movement should have 14 7 million 18 to 24 year old members but only has million Source: CUNA Market Research
  16. 16. 40 $ BOOMERS X+Y TRILLION
  17. 17. 24 of Gen Y have no idea what a credit union is % RON SHEVLIN AITE GROUP ANALYST Source: Aite Group Engaging Gen Y: Cultivating a New Generation of Banking Customers
  18. 18. 5 % of Gen Y will consider a credit union the next time they need a financial product RON SHEVLIN AITE GROUP ANALYST Source: Aite Group Engaging Gen Y: Cultivating a New Generation of Banking Customers
  19. 19. Going social
  20. 20. “ An important, irreversible, completely different way for people to relate to companies and to each other.” JOSH BERNOFF CO-AUTHOR OF GROUNDSWELL
  21. 21. 1999 2004 PERFECT TIMING TM 2005 2006
  22. 22. REALITY CHECK
  23. 23. PEOPLE RELATE TO PEOPLE
  24. 24. However, standing out is easier said than done SOCIAL NOISE
  25. 25. SOCIAL MEDIA MYTH
  26. 26. online ads billboards statement stuffers Google Adwords plasma screensradio brochures sponsorships website events YouTube blog e-mail in-branch microsite newspaper PR Facebook Twitter transit on-hold message magazines ATM screens cinema ads TV word of mouth outdoor newsletter promotional items direct mail
  27. 27. Our solution Young & Free
  28. 28. Giving young people a voice, a head start and useful information
  29. 29. 8 regions live by June 2010
  30. 30. 20,000 new accounts have been opened by our partner Young & Free credit unions to date
  31. 31. Comes down to strategy & execution
  32. 32. 90-9-1 PRINCIPLE CREATORS: EDITORS: AUDIENCE: 1% 9% 90% Source: www.90-9-1.com
  33. 33. 1 2 3 PRODUCT SITUATION REGIONAL RECOMMENDATIONS ANALYSIS LOOK & FEEL & BUSINESS CASE PROCESS 2 WEEKS 2 WEEKS 2 WEEKS 6 5 4 PUBLIC SPOKESPERSON PLANNING & VOTING SEARCH & PRODUCT IMPLEMENTATION LAUNCH 3 WEEKS 7 WEEKS 8 WEEKS 7 8 HIRING THE SPOKESPERSON TERM SPOKESPERSON 2 WEEKS UP TO 52 WEEKS © Copyright 2009 Currency Marketing
  34. 34. ALBERTA 1 SITUATION ANALYSIS TEXAS 1 SITUATION ANALYSIS
  35. 35. FREE UNLIMITED HEAD START NO HIDDEN FEES CROSS SELL 2 ALBERTA PRODUCT RECOMMENDATIONS & BUSINESS CASE SUITE THREE ACCOUNTS ONLINE ACCOUNT OOPS REFUNDS FINANCE WORKS OPENING SOUTH CAROLINA 2 PRODUCT RECOMMENDATIONS & BUSINESS CASE
  36. 36. POWERFUL COMBINATION 3 REGIONAL LOOK & FEEL
  37. 37. SOUTH CAROLINA 3 REGIONAL LOOK & FEEL ALABAMA 3 REGIONAL LOOK & FEEL
  38. 38. YOUNG &FREE TEXAS ARE YOU THE VOICE OF THE 25 AND UNDER TEXAS CROWD? YoungFreeTexas.com Powered by Federally Insured by NCUA MY TEXAS ACCOUNTS 4 PLANNING & IMPLEMENTATION YOUNG &FREE SM SOUTH CAROLINA ARE YOU THE VOICE? ARE YOU THE VOICE? Powered by YoungFreeSC.com YoungFreeSC.com SOUTH CAROLINA 4 PLANNING & IMPLEMENTATION
  39. 39. Finding the voice
  40. 40. “ Thank you so much for being so quick to do all this! You are wonderful!” GLORIA HIATT YOUNG & FREE SC APPLICANT
  41. 41. $750,000 in unpaid media in Alberta
  42. 42. Highlights from our Spokesters’ terms
  43. 43. Josh is a social butterfly! 2,417 Twitter followers 1,825 Facebook friends and 282 fans 471 Flickr photos 40+ real-world events
  44. 44. Chris created a musical. Seriously!
  45. 45. DeAndré owned every event he attended!
  46. 46. Myles can make a song out of anything!
  47. 47. Joshua is banging up great money-related blog posts
  48. 48. Larissa has proven the credit union difference 125,000 times!
  49. 49. Sustaining Momentum
  50. 50. SUSTAINING MOMENTUM
  51. 51. Power of Collaboration
  52. 52. Credit Union Central of Canada • National Credit Union Innovation Award CUES Golden Mirror Awards • 1st place coordinated campaigns • 1st place segmented campaigns • 1st place for PR Forrester Research Groundswell Awards • 1st place in the talking category MAC Network Awards • Gold Award for market segment program • Gold Award for PR • Gold Award for websites • Best of Show MACQUEE MACU AIME Awards • Gold AIME new product launch • Silver AIME coordinated campaigns • Silver AIME radio • Silver AIME websites • People's Choice Award
  53. 53. “ You deserved to win. You did a great job and just as important, actually delivered business value with your application. The big companies did too, but your application was more impressive based on the creativity and the results delivered on a limited budget.” JOSH BERNOFF CO-AUTHOR OF GROUNDSWELL
  54. 54. YoungFreeHQ.com BeYoungAndFree BeYoungAndFree
  55. 55. DeAndré Upshaw Young & Free Change Agent Currency Marketing @deandresays on Twitter (Actual member of Gen Y)
  56. 56. My experience as 2008 Young & Free Texas Spokesperson
  57. 57. ARE YOU THE VOICE OF THE 25 AND UNDER TEXAS CROWD? YoungFreeTexas.com Apply for the ultimate job! Be the 2009 Young & Free Texas Spokesperson. Apply by October 1 for this one-year position with tons of cool perks.
  58. 58. Tim McAlpine DeAndré Upshaw President & Creative Director Young & Free Change Agent Currency Marketing Currency Marketing @currencytim on Twitter @deandresays on Twitter

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