Generation Y: The Future of Credit Unions

1,081 views

Published on

Bryan and Matt's presentation at the CUNA Mutual Group Discovery Conference

Published in: Business, Economy & Finance
0 Comments
2 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
1,081
On SlideShare
0
From Embeds
0
Number of Embeds
33
Actions
Shares
0
Downloads
40
Comments
0
Likes
2
Embeds 0
No embeds

No notes for slide

Generation Y: The Future of Credit Unions

  1. 1. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  2. 2. Generation Y: The Future of Credit Unions Matt Dean, CEO-Trabian Bryan Sims, CEO-brass|MEDIA Inc. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  3. 3. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  4. 4. Entrepreneurial common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  5. 5. Entrepreneurship • Ebay – 724,000 primary or secondary income – 1.5 million supplement their income • In processing interviews in New York City Family Court, kids still say they want most to be NBA basketball players. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  6. 6. Entrepreneurship • Ebay – 724,000 primary or secondary income – 1.5 million supplement their income • In processing interviews in New York City Family Court, kids still say they want most to be NBA basketball players. – The second most frequent response is quot;to be an entrepreneur.quot; common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  7. 7. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  8. 8. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  9. 9. Helping People common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  10. 10. Charity/Social Drive • $926 million- donations from 8-18 year olds in 2004 • 86% consumers say they are likely to switch brands associated with a good cause given all things equal – 50% are willing to pay 5-10% more • 58% of Americans will purchase products that donate a percentage to causes common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  11. 11. Charity/Social Drive • Target Guest Card- – Customers donate 1% of purchase to local school of their choice – On school web sites, “If you shop at Target, please consider designating Sanford Middle School as your choice for giving.” – Target opened 11 million accounts and schools got $23 million common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  12. 12. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  13. 13. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  14. 14. Technology common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  15. 15. Technology “Members of the My Media Generation can fit up to 44 hours of activities in just one day…” -Yahoo.com common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  16. 16. Blogs common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  17. 17. RSS common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  18. 18. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  19. 19. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  20. 20. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  21. 21. Technology 750,000 in 48 hours common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  22. 22. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  23. 23. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  24. 24. Picture Perfect Visa Credit – November 2005 Ø 8,447 accounts Ø 7% increase in transactions Ø 9% increase in balances Ø 22% decrease in checks written Visa Debit – March 2006 Ø 10,021 accounts Ø 13% increase in transactions Ø 7% increase in balances Ø 18% decrease in checks written common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  25. 25. Wesabe common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  26. 26. 00% 90% 90% 84% 83% 80% 80% 77% 69% 68% 70% 62% 59% 60% 57% 18-34 35-44 50% 48% 45-54 50% 47% 55-64 65 or older 40% 39% 40% 37% 35% 32% 30% 20% 20% 17% 10% common vision • uncommon experience • think discovery 0% ATM withdrawals Check cards Online banking Online bill pay © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  27. 27. Technology Not just technology… common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  28. 28. Young adults view physical branches just as importantly as Baby Boomers common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  29. 29. Apple Genius Bar common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  30. 30. Umpqua Bank common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  31. 31. 2006 Internet advertising is up 34% from 2005 common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  32. 32. But….. …10% to 15% of the advertising traffic is likely click fraud common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  33. 33. More than 230 million Americans have cell phones common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  34. 34. But…… common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  35. 35. Magazine circulation decreased 5.5% the past 12 months common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  36. 36. But….if you drill deeper… Average Magazine Titles Read in Past 6 Months 19-24 year olds- 18.3 45-54 year olds- 16.7 common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  37. 37. Meanwhile, 71% of 13-24 year olds still read magazines… …58% of those said even if they can get the same information online common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  38. 38. YouTube serves 200 million videos per day! common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  39. 39. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  40. 40. Don’t just do it because its ‘cool’ common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  41. 41. ESPN Cable ESPN Magazine ESPN Podcast ESPN Zone Restaurant ESPN Web Video ESPN Mobile common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  42. 42. Then why should you care? common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  43. 43. Worst Bank Ever. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  44. 44. June 18-19, 2007 kellyd I'm going to tell you all a short story about the worst bank ever. To protect the innocent we'll just call this bank Tells Largo. I am trying to close my account at Tells Largo. So far it has taken 7 days and 4 phone calls....and it's still open!! I think there may be one competent person at Wells Fargo. Of course, I won't believe it until my acct is closed, which hasn't happened yet. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  45. 45. June 21, 2007 chaztoo Wells Fargo: Thanks so much for calling ME & putting ME on hold for 30 seconds before talking to me. Actually, eat a bowl of rats. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  46. 46. June 14, 2007 Tracking Overdraft Fees 1. Wachovia: $26.63 (0.99 overdrafts per account; $26.79 average fee) 2. U.S. Bank: $22.42 (0.70 overdrafts per account; $31.85 average fee) 3. Washington Mutual: $21.14 (0.76 overdrafts per account; $27.76 average fee) 4. Bank of America: $15.19 (0.48 overdrafts per account; $31.41 average fee) 5. Wells Fargo: $12.42 (0.38 overdrafts per account; $32.59 average fee) common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  47. 47. But you’re not Wells Fargo. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  48. 48. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  49. 49. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  50. 50. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  51. 51. DarrenBarefoot.com I Wanted to Like Vancity, But Now I Loathe Them common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  52. 52. Unfair? Probably. Important? Absolutely. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  53. 53. ‘No credit’ is not ‘bad credit’ common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  54. 54. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  55. 55. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  56. 56. Take Aways common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  57. 57. Take Aways All departments, not just marketing common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  58. 58. Take Aways New and/or rotating board members common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  59. 59. Take Aways All aspects of media common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  60. 60. Take Aways Young adults ARE profitable – 69% college students kept accounts at same institution – Biggest increase in new homers were under 25 – Lower cost of servicing common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  61. 61. Take Aways Lurk, participate, THEN create common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  62. 62. Take Aways Be open to criticism (but be sure to respond) common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  63. 63. Take Aways Work in progress, never finished common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  64. 64. Websites to check out • www.earlyearners.com • www.wesabe.com • www.zillow.com • www.espn.com • www.coastalfcu.org/studentbanking • www.umpquabank.com • www.zopa.com • blog.wellsfargo.com/StudentLoanDown/ • blog.veritycu.com common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  65. 65. Questions? common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  66. 66. www.opensourcecu.com/discovery common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  67. 67. Contact Information Speaker Name: Bryan Sims Phone Number: 541-753-8546 Email Address: BryanSims@brassmedia.com Speaker Name: Matt Dean Phone Number: 317-596-3537 Email Address: matt@trabian.com common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  68. 68. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  69. 69. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.
  70. 70. common vision • uncommon experience • think discovery © CUNA Mutual Group 2007. Reproduction, adaptation or distribution without permission of CUNA Mutual is prohibited.

×