NEW YORK (5/3/13)--Nerdwallet is holding a contest to encourage credit unions to come up with innovative far-reaching ways to reach Gen Y.
Generation Y makes up about 25% of the population, but only about 9% of credit union membership. At the same time, this tech savvy generation needs help from credit unions in the form of lower fees, higher savings rates and better financial literacy rates, Nerdwallet said.
Credit unions are eligible for the top overall prize of $2,000 and the runner-up prize of $1,000. One credit union under $500 million in assets and one credit union under $100 million in assets are each eligible for additional $1,000 prizes.
Entrants will be judged on a "commencement speech" that provides financial literacy advice to Gen Y and a proposal for using the funds awarded in the contest.
Contest participants will receive:
Bucky Sebastian, National Credit Union Foundation executive director, is among the judges for the contest.
For more information, use the link.