Filene fin. lit. study captures Gen Y’s attention
MADISON, Wis. (2/29/16)--A new digital slideshow from the Filene Research Institute offers the results of a pilot study featuring financial literacy content designed to capture the imagination of the Gen Y market.
The challenge for most credit unions is not providing financial literacy content; it’s capturing the attention of the coveted Gen Y market and turning that attention into action.
It’s a Money Thing, a financial literacy program piloted by Filene, is a collection of affordable financial education content to engage and teach young adults. It is electronically delivered to the credit union monthly and includes a video, an article, an infographic, a presentation, a handout, and graphics for use on social media.
Credit unions participating in the It’s A Money Thing pilot saw a 9% gain in their Gen Y membership.
Content is guided by a main character named Jen. Each episode has Jen or one of her friends learning something new through a creative interaction. Viewers follow the journey watching how financial literacy is applied in Jen’s life.
As of December, more than 60 credit unions in the United States and Canada were using the program. Twenty credit unions participated in the pilot and 10 provided data.
Satisfaction with social media engagement increased 100% (from 30% pre-pilot to 60% post-pilot) among the reporting credit unions.