For many years, CUNA’s National Member & Nonmember Survey reported on credit unions’ low penetration among young adults and the enormous growth potential this group represents.
In developing this year’s survey, Credit Union Magazine wanted to dig deeper. What do millennials think about credit unions? What messages might resonate more clearly with them? What products, services, or communications might strengthen their loyalty to their credit unions?
On the penetration front, survey findings indicate the needle moved: 28% of consumers ages 18 to 24 now belong to a credit union, up from 22% in 2013.
This is encouraging. But the survey also points out that increasing awareness and maintaining your relevance among millennials remain critical challenges for credit unions’ future growth.
The articles in this issue shed more light on:
Credit Union Magazine sponsored the National Member & Nonmember Survey—conducted by CUNA’s market research department—and is the exclusive publisher of its results.