Global youth success highlighted by World Council
MADISON, Wis. (7/7/15)--The World Council of Credit Unions has released the second part of a guide that offers credit unions ideas for reaching the global young adult market.
“International Lessons for Young Adult Membership Growth” offers examples on growing membership as shared by the global credit union community.
Among the examples from around the world the guide offers:
- New Zealand. Through its cooperatively owned industry and business association, Co-op Money NZ developed a mobile banking app to appeal to the younger generation;
- Canada. Servus CU created the Servus Young Leaders Network to provide employees age 35 and under with opportunities to connect and learn from one another, and from other leaders within the organization;
- Brazil. Sicredi, a system with 100 credit unions serving 3 million members across Brazil, doubled the number of its new, young adult members with a targeted marketing program;
- Ireland. Member First CU communicated to millenials through its rebranding program, which included education, products and services for youth and young adults;
- Kenya. Future Farmer is a component of World Council’s Cooperative Development Program, in which the World Council partners with E-Kenya, an entirely digital credit union, and Beverly School of Kenya, a rural boarding school, to equip youth with the financial, business and agricultural tools that can benefit them, as well as their families and community;
- Estonia. Tartu Credit Cooperative uses young leadership to ensure it engages the younger generation. The current Tartu Credit Cooperative management board has an average age of 29. At least 44% of all members are 18 to 35 years old, not including business members with young owners;
- United States. BECU, Tukwila, Wash., creates market awareness to attract young members by using different marketing channels, including promotions through partner employers and universities;
- Mexico. ACREIMEX is a credit union that has introduced technology to increase operational efficiency and ultimately expand financial inclusion, including to younger members. ACREIMEX has more than 100,000 members, with 45% between 18 and 35 years of age; and
- Philippines. Paglaum Multi-Purpose Cooperative has embraced children and financial education as part of its mission. The guide describes how Paglaum MPC sent Thea Janica Gwenn C. Handumon to national and international conventions and seminars to hone her skills and abilities as a young cooperative leader.
Attracting younger members is one of the breakout sessions at next week's America's Credit Union Conference and World Credit Union Conference in Denver--a collaborative conference from CUNA and World Council. (See related story: Countdown to Denver: Gen Y members crave relevance from CUs.)