MADISON, Wis. (11/5/15)--A new publication from the Filene Research Institute explores how credit unions can provide young entrepreneurs with assistance in achieving their goals.
“Are Credit Unions Doing Enough to Help Young Entrepreneurs?” is presented as a slide deck and offers questions for credit unions to consider in helping millennials follow a path of entrepreneurship; traits of young entrepreneurs; and recommendations for serving them, including examples of how some credit unions are currently helping young entrepreneurs.
Young entrepreneurs can become loyal credit unions members, which can lead to long-term organizational growth, the publication said.
Credit unions are providing education and financial literacy through programs such as Biz Kid$ from the National Credit Union Foundation and the Maine Credit Union League's Young and Free spokester program.
Seed funding can be provided through microloans, startup competitions and scholarships to help young entrepreneurs.
Among the “next steps” the paper recommends for credit unions: