2013 Moving The Young Adult Needle

Moving the
Young Adult Needle
Tim McAlpine
PRESIDENT & CREATIVE DIRECTOR
CURRENCY MARKETING

CREDIT UNION MAGAZINE, APRIL 1969
Although the average age of
today's population is
getting younger, the
average age of today's
credit union member keeps
creeping upwards. But
credit unions can remain
young—in thought, service
and membership—by serving
today's youth as well as
their aging membership.”
“

In 1972, the National Youth Involvement Board was created to
obtain grassroots input from individuals working in credit unions
and leagues and to create a national system for the
dissemination of information and resources regarding youth
participation in the credit union movement. This was due to the
average age of credit union members rising in the 1960s. Credit
union leaders recognized the need to reach out to young people
to ensure a bright future for the movement.”
“

A.M. 1. Gen Y and Z
2. Young adult staff
P.M. 3. What young adults need
4. Young & Free update

• Founded in 1990
• Based in Canada
• 80% of business is in U.S.
• 100% credit unions

What makes
Gen Y and Z tick?
1

Silent
1928-1945
Baby Boomers
1946-1964
Gen X
1965-1979
Gen Y
1980-1996
Gen Z
1997-Now

78million
GENY
50million
GENX
76million
BABY
BOOMERS
23million
GENZ
7moreyears
leftinthis
generation

SOURCE: CUNA, CUCC, U.S. CENSUS, WIKIPEDIA
35
NORTH
AMERICAN
Average
age
The great
divide
48UNITED STATES
CREDIT UNION
MEMBER
CANADIAN
CREDIT UNION
MEMBER54

0
3
5
8
10
1989 1996 2000 2002 2006 2008
17of the population is
between 18 and 24
%
SOURCE: CUNA MARKET RESEARCH
4%
of credit union
members are
between 18 and 24

anti hype technology confident spenders savvy cool goals college
respect planning influence truthful authenticity distrust forward
thinking family questioning quality media university wary friends
fun world view connected anti hype technology confident spenders
savvy cool goals college respect planning influence truthful
authenticity distrust forward thinking family questioning quality
media university wary friends fun world view connected anti hype
technology confident spenders savvy cool goals college respect
planning influence truthful authenticity distrust forward thinking
family questioning quality cool truthful truthful confident savvyYGEN

Gen Y
‣ Follows Generation X
‣ Largest generation in history
‣ Born from 1980 to 1996 (17 to 33 in 2013)
‣ Socially conscious
‣ Distrust companies and media
‣ Could care less about credit unions!

Gen Y
‣ Entering and finishing college
‣ Finishing college and university
‣ Planning five years ahead
‣ Looking forward to relationships
‣ Confident but wary
‣ Practical world view
‣ Goal oriented

Gen Y
‣ Respect parents and education
‣ Shopping is an event, not a chore
‣ Raised on texting and IM
‣ Social networking is huge
‣ Open to spirituality
‣ Indifferent to Christianity

anti hype technology confident spenders savvy cool goals college
respect planning influence truthful authenticity distrust forward
thinking family questioning quality media university wary friends
fun world view connected anti hype technology confident spenders
savvy cool goals college respect planning influence truthful
authenticity distrust forward thinking family questioning quality
media university wary friends fun world view connected anti hype
technology confident spenders savvy cool goals college respect
planning influence truthful authenticity distrust forward thinking
family questioning quality cool truthful truthful confident savvyZGEN

Gen Z
‣ Follows Generation Y
‣ Born from 1995 to 2011 (2 to 18 in 2013)
‣ Smaller than Generation Y
‣ Only knows of a world with the Internet
‣ Faces a dismal economic picture

Growing up digital
‣ Constantly connected
‣ Phone serves as everything hub
‣ Internet access mostly via computer
‣ Still regular TV watchers
‣ Digital connections trump money, music, movies
‣ Reluctant to disconnect

Growing up digital
‣ Legally or not, Facebook is the place to be
‣ Constantly chatting, often online
‣ More at ease socializing online than offline
‣ Spenders first, savers second
‣ Sensitive to family’s financial situation
‣ Parents have mixed feelings about social
networks

Growing up digital
‣ Both online and offline shoppers
‣ Parents usually pay online
‣ Tethered to parents for shopping
‣ Economic concerns weigh heavily
‣ Girls more concerned about war and crime
‣ Pessimistic about the near term

National Youth Involvement Board
nyib.org

World Council’s Young Credit Union People (WYCUP)
woccu.org

CUES Next Top Credit Union Exec
ntcue.com

The Cooperative Trust
trust.coop

CU Water Cooler
cuwatercooler.com

Positive energy and a
palpable sense of frustration

I wanted to stay, but
I had to better myself.”
YOUNG MALE MARKETER WHO RECENTLY
LEFT A $90 MILLION CREDIT UNION FOR
A CAREER IN ANOTHER INDUSTRY“

We see this huge opportunity to
turn this very archaic industry
into something huge, but we all
see the same brick wall from
our credit unions.”
A CAREER IN ANOTHER INDUSTRY
“

I decided I wanted to move into a leadership role at
another credit union but this proved impossible. I
reached out to so many contacts I met at
conferences. I spent almost a year sticking it out at
my credit union waiting for an opportunity to come
along. I just had to give up. I was afraid I was going
to be stuck in a position being a lackey forever. I
really didn’t want to leave the industry but it was a
life decision for me to better myself and to take my
talent to a place that it could be used effectively.”
A CAREER IN ANOTHER INDUSTRY
“

“I’m mobile and it was
time for a change”

Sometimes no matter how much
you love and adore your family and
your job, you just can’t stay in the
city you grew up in. You have to
spread your wings a little bit and
attempt to follow your own calling.”
YOUNG WOMAN WHO’S FATHER IS A CREDIT UNION CEO—SHE
LEFT HER CREDIT UNION TO MOVE TO A DIFFERENT CITY AND A
POSITION WITH A LARGE POST-SECONDARY INSTITUTION
“

“We aren’t like our
parents, stuck in a rut
for our whole life.”

I wonder if the accessibility to information,
the mobility of the workforce and the global
awareness of a multitude of complex issues
leads some of my generation to say, ‘I’ve
contributed to the tackling of these
financial issues; maybe I’ll tackle something
else for a while; the world needs me!’”
BEN IS AN ADVISOR AT $800 MILLION MENNONITE
SAVINGS AND CREDIT UNION, ONTARIO, CANADA
“

“My credit union
doesn’t behave like
a credit union.”

The bill of goods that has been sold to young
credit union professionals is that our model
puts our members first (and profits last).
What’s hard to understand, however, is why
our response to the economic collapse has
been so similar to that of the banks we were
told had business models that were
completely foreign to ours.”
MATT DAVIS,INNOVATION DIRECTOR AT
THE FILENE RESEARCH INSTITUTE,
MADISON, WISCONSIN
“

“I love credit unions,
but I can’t stand
my credit union.”

The thing that excites me the most and
keeps a fire in my belly for this industry?
What credit unions can be. What we’re
capable of. It’s easy to see this and be
swept off our feet by looking at credit
unions that are living that right now.”
BRENT DIXON, YOUNG ADULT RESEARCH
ADVISOR AT THE FILENE RESEARCH INSTITUTE
AND THE CREATOR OF THE COOPERATIVE TRUST
“

My young peers are also attracted to credit union
history, where we sprang from the grassroots up to
fill a human need and spread like wildfire. It was a
time when credit unions were messy and beautiful
because they were stitched together by
communities with a voracious appetite for
solving problems and improving lives.”
“

But the reality is, many credit unions today have
lost sight of that purpose, suffer from the myopia
of immediate stressors, the fear of change, and
can’t shake loose from the inertia of what has
been. I can’t tell you how many credit union
employees I’ve heard say, ‘I love credit unions,
but I can’t stand my credit union.’”“

If someone has a passion for helping people, for impacting
their community, for building something true from the
grassroots up, but spends every day in an organization that
chokes that passion out (or simply ignores it), they’re going
to move on to an opportunity to do that elsewhere. That next
opportunity might be in credit unions, or it might not. You can
only say, ‘let me in, I want to come in, please let me in’ so
many times before you need to move on to the next door.”
“

“We want to make
positive changes that
will push our industry”

In an industry that is already old-fashioned
in many ways, smothering our voice becomes
a de-motivator. I think that’s what causes
people to leave it altogether. I believe in the
possibilities of what we can be, and that’s
why I’m committed to the movement.”
RONALDO HARDY, CEO AT $400 MILLION
LA CAPITOL FEDERAL CREDIT UNION, LOUISIANA
“

“I’m in for now,
but frustrated!”

“There’s not much
room at the top.”
A 40-SOMETHING VICE PRESIDENT
FROM A $250 MILLION CREDIT UNION

I’m not a Gen Y credit union employee but I can
provide a somewhat frustrated Gen X
perspective on opportunities for career
advancement within the industry. My peers are
at the same stage—primarily middle
management and some at an AVP or VP level.
Credit unions are driving young talent out of
the industry because the opportunity for
upward advancement has been greatly
diminished for three reasons...”
“

First, credit union executives are staying longer in
their jobs because their retirement funds have
been reduced and their financial security
threatened given the market crash a few years
ago. Almost half of our senior management team
extended their retirement dates over the past
three years. Many are now planning to work until
65 or even 70. If fewer VPs and SVPs retire, there’s
less movement at both the management and
senior management levels. This demotivates up-
and-coming talented individuals.”
“

Second, credit unions have been forced to become
far more lean which means fewer management and
VP positions. Credit unions are reducing their full-
time head count through attrition. The good news
is that they are not conducting layoffs but the bad
news is if a VP manager does leave, the duties are
simply reassigned within the organization. Senior
teams are far more conservative given the current
financial pressures on a credit union’s bottom line
and, as a result, are much less willing to take a
chance on an unproven manager or VP.”
“

This is further compounded by high unemployment
rates providing a large pool of talented and highly
experienced individuals to choose from. Positions are
being awarded to an out-of-work banker with 30 years
experience instead of an up-and-coming talented
credit union employee. And third, more and more
credit unions are merging. This, once again, reduces
management and senior management opportunities.
These credit unions will have twice the number of
people needed in these positions and will spend the
next five years reducing these management and
senior management teams.”
“

“The saddest thing about
the credit union system right
now is it’s inability to
articulate a vision.”

There remains a strain of idealism in the credit
union system, and idealism is a young person’s
game (for the most part). Sometimes credit
unions consciously encourage this idealism,
but more often it’s implied or inferred and it’s
too often bred from inferiority complexes. ‘We
may be small, but we’re different!’ It’s natural
to ask why you’re different, and it’s natural for
young idealists to want to believe that those
differences matter.”
A YOUNG CANADIAN CREDIT UNION
PROFESSIONAL IN HIS 30S
“

A YOUNG CANADIAN CREDIT UNION
PROFESSIONAL IN HIS 30S
It is the responsibility of senior credit union
leaders to create a sense of mission or vision
that can feed and sustain the idealism. In
Canada, this idealism has essentially
evaporated. Our credit unions operate
profitably and professionally, but our
operations are bland and undifferentiated as
we navigate the unclear cultural relevance of
being a credit union.”
“

MATT VANCE, MARKETING/COMMUNITY
MANAGER AT $139 MILLION INDUSTRIAL
CREDIT UNION, WASHINGTON
I have a voice and I see myself as part of the
solution. My credit union was the first to give
me a shot right out of college. I was handed
the keys to a marketing department at the age
of 24. I’ve had an amazing opportunity to learn,
try new things and fail and grow over the past
five years.”“

DEVIN SELTE, CORPORATE TRAINER,
LEADERSHIP DEVELOPMENT AND CHANGE
LEADERSHIP AT $10 BILLION SERVUS
CREDIT UNION, ALBERTA, CANADA
Over my past 12 years with the same credit union, I
believe my career has had three phases:
employed, acceleration and purpose. The employed
phase lasted probably the first two or three years
of employment (20 to 22 years of age). At that
time, I would say that my position was just a job,
with a steady pay check, rather than a career.”
“

The acceleration phase started when I figured out I was pretty
good at what I was doing. Over those five to six years (23 to
28), I found my niche, and wanted more, and I wanted it as fast
as possible. I was lucky enough to quickly accelerate into roles
with greater responsibility by being in the right place at the
right time. If I didn’t accelerate through my position and had to
wait for opportunities, I would have become impatient and
frustrated, and I don’t know if I would have remained. Money
was very important at this time as during this phase I was
married, bought our first home and had our first child.”“

My current phase, and hopefully a phase that will last the
longest of my career, is the purpose phase. I have been allowed
to bring some of my own innovation to the credit union and run
with it. This, added with my current role, has provided me with
a greater purpose and it has made all the difference. It has
allowed me to be more engaged, more committed and wanting
to do more for my credit union, along with providing me with
the motivation to do a better job in my current role. By being
provided with these types of additional opportunities and
responsibilities, I do believe I will be a lifer.”“

“My personal values
are so aligned with
the mission”

WILLIAM AZAROFF, DIRECTOR, BUSINESS
& COMMUNITY DEVELOPMENT AT
VANCITY, $18 BILLION, BRITISH
COLUMBIA, CANADA
I don’t think age or size of organization has
anything to do with it. I think the fact that
my personal values are so aligned with the
mission of Vancity is instrumental and
perhaps completely unique. For me, that is
the critical ingredient.”“

KELSEY BALCAITIS, COMMUNITY EDUCATION
SPECIALIST AT $763 MILLION A+ FEDERAL
CREDIT UNION, AUSTIN, TEXAS
When I started, I was a teller and it was just a way to
earn money for college. But it was through that job
that I was first exposed to the credit union philosophy.
Did it really sink in and make me a credit union lifer?
Nope. But it did open the door to becoming one. It
wasn’t until I started my internships with CUNA and
Filene that I really started to see what credit unions
were doing and what the industry was all about.”“

TINA K. HALL, PRESIDENT & CHIEF
CATALYST, KIRSI CONSULTANCY,
SEATTLE, WASHINGTON
I think people are yearning for something
more. What keeps them in credit unions is
the philosophical alignment with the
‘betterment’ concept. We can push the
boundaries and get more creative in how we
translate that concept to the employee.”
“

It’s not about the money
‣ A credit union that believes in innovation and
free thinking
‣ A superior who they respect
‣ A belief that they are part of something bigger
than just their own credit union
‣ Continued educational opportunities

More success ingredients
‣ A personal passion and purpose that aligns
with credit unions
‣ Room to try new things
‣ Opportunities for growth
‣ An obvious path for advancement
‣ Young credit union professionals appear to
thrive at larger credit unions

What do young people
want and need?
3

Chris and his friends tell us
everything we need to know...

I need a bank that
tries to understand.”
“

‣ Explain the credit union difference
‣ Listen and show compassion
‣ Use straightforward language
‣ Offer tailored products and services
‣ Deliver plain-English financial education
‣ Provide do-it-yourself accessibility
Show you understand

69of consumers ages
18 to 24 are “not at
all familiar” with
credit unions
%
SOURCE: CREDIT UNION NATIONAL ASSOCIATION’S (CUNA) 2011-2012 SURVEY OF POTENTIAL MEMBERS

5of Gen Y will consider a credit
union the next time they need
a financial product
%
RON SHEVLIN,AITE GROUP ANALYST
SOURCE: AITE GROUP ENGAGING GEN Y: CULTIVATING A NEW GENERATION OF BANKING CUSTOMERS

Free debit card
for the ATM.”
“

‣ Offer free access to:
‣ Online banking
‣ Online bill-pay
‣ E-statements
‣ Offer relevant debit rewards
Transaction products
are very sticky

15
Your first credit card lasts
YEARSON AVERAGE

Average credit
card debt for a
college senior2,846$

‣ Start with low introductory rate that
rises steadily and predictably
‣ Allow three over-the-limit or
late-payment fees per year
Characteristics of a
responsible card

‣ Link to a savings or investment account and
offer “overpay” option or cash back to savings
automatically
‣ Share credit scores with your members
regularly
Characteristics of a
responsible card

Customization
First was
the traditional
flame job, which I
used to modify this
lame-ass card.

Swimming in debt
from student loans.”
“

$20,000
In the past decade,
average student
debt levels rose by
over $10,000
$9,250

By 2004,
people under 25 were
the fastest growing group in
BANKRUPTCY
DECLARATIONS

Student loans program
‣ Huge opportunity: A generation of well-
educated and disenfranchised young adults
who need help
‣ Concentrate on consolidation
‣ Offer a lower-than-standard rate
‣ Communicate the benefits of one bill
instead of many

I just bought a new car
that I can’t afford.”
“

First car loan
‣ Great opportunity to start
long-term relationship
‣ In addition to credit score, evaluate on
character, capacity and collateral
‣ Bundle with checking account and require
automatic payroll deposit

A credit union is
where you need to be.”
“

14% 4%
8%
22%
35–54
16%
30%
55+
Consumer Trust by Age
Younger consumers
trust banks while
older consumers trust
credit unions most
“How much do you trust the following entities with your money?”
% calculation: Top 3 box
responses (“trustworthy”)
less bottom 3 box responses
(“not trustworthy”)
18–34
BANK CREDIT UNION
SOURCE: MCKINSEY FINANCIAL INSTITUTIONS
CONSUMER INSIGHTS SURVEY, 2009

Education and technology are key
‣ Don’t assume young adults know or care
about your credit union
‣ Build trust over time
‣ Stress accessibility (shared branching
and ATMs)
‣ Keep up to or ahead of your competitors’
technology

63of the population is
comfortable with
making payments on
their smart phone as
soon as the service
becomes available
%
SOURCE: MASTERCARD

Checking my
account at 2 a.m.”
“

‣ Modern online banking system
‣ Mobile website
‣ iPhone and Android banking apps
‣ Personal financial management tools
‣ Remote deposit capture
Self-service is the new
service with a smile

ONLINE BANKS
are your real future competition

86of online bank
customers said
customer service is
the reason they
would not switch
%
ROB RUBIN,FACILITAS
SOURCE: YOUNG ADULTS EVOLVING FINANCIAL PREFERENCES, FILENE RESEARCH INSTITUTE

“The people you see here are outspoken
fans of Virtual Wallet – that's how we
found them. To thank them for spending a
day talking to us about life with Virtual
Wallet, PNC offered them each a gift.”

And finally, don’t forget what
makes credit unions special

I need a place where
I won’t be ignored.”
“

What are the business lessons?2
What can you apply to your situation?3
What are the marketing lessons?1

COMMON WEALTH CREDIT UNION, ALBERTA, CANADA
We would like to hear
how Currency can help us
own the young market
in Northern Alberta!”
“

GREAT
PRODUCT
OFFER
DIFFERENT &
BUZZ WORTHY
ONLINE &
SOCIAL
MEDIA
REAL, NOT
SCRIPTED
AUDIENCE
INVOLVEMENT
LONG-TERM
APPROACH

INTEGRATED
SOCIAL MEDIA
MARKETING
SOCIAL MEDIA
WORD OF MOUTH
CONTENT MARKETING
GUERILLA MARKETING
DESIGN
PRODUCT DEVELOPMENT
TRADITIONAL MEDIA EVENT MARKETING
NICHE MARKETING
DIRECT MARKETING
SOCIAL NETWORKING
USER-GENERATED CONTENT
MICRO BLOGGING
BLOGGING
ONLINE VIDEO
CONTESTING
FINANCIAL LITERACY
BRANDED CONTENT
PUBLIC RELATIONS

Solid strategy2
Compelling story3
Dedicated resources4
Relevant products and services1

Hire a young spokesperson
through a public search. His or her job will be
to attract and educate new young
adult credit union members
by offering useful information and promoting
relevant products and services in person and online.”
“
T H E P I T C H

Strategy capitalizes on three simple truths
People relate
to people
Anyone can
be a star
Social media
is popular

•25-and-under crowd
•High school to college
•College to the real world
•Major purchases (cars, houses)
•Dating and marriage
•Having first children
YOUNG =
T H E P I T C H

•Free checking account
•No hidden fees
•A head start
•Listened to and understood
•Free to learn
•Free to make mistakes
FREE =
T H E P I T C H

Sub-brand
“Powered by”
approach

We think you should give an
unscripted and
uncensored young person
control of your brand!”
“
M A R K E T I N G S P E A K T R A N S L A T I O N

I’m hornier than
a house cat
about this idea.”
JEFF MULLIGAN, CEO
“

A GREAT
GROUP OF
APPLICANTS
GREAT
WORD-OF-MOUTH
& PUBLICITY
SOLID INITIAL
MEMBER GROWTH
& RESULTS

Q. What’s wrong with this video?
A. It’s brilliant. And that is what makes it so horribly wrong.
How is it, that in the 100 or so years that credit unions have
existed, no CU executive, no ad agency creative genius, no
anybody for that matter, has been able to articulate the
difference between CUs and banks as well, as artistically, and as
entertainingly as the 19-year old Canadian that did this video?
Every CU marketer in North America should be looking at this
video and yelling at their agency ‘Find me a Larissa!’”
RON SHEVLIN
SENIOR RESEARCH ANALYST
AITE GROUP
“

Credit Union Central of Canada
• National CU Innovation Award
CUES Golden Mirror Awards
• 1st place coordinated campaigns
• 1st place segmented campaigns
• 1st place for PR
CUNA Diamond Awards
• 1st place for PR
Forrester Research
Groundswell Awards
• 1st place in the talking category
MAC Network Awards
• Gold Award for market
segment program
• Gold Award for PR
• Gold Award for websites
• Best of Show MACQUEE
MAC Marketing Now Awards
• Winner video
• Winner blog
• Winner podcast
• Winner social media engagement
• Winner social media personality
MACU AIME Awards
• Gold AIME new product launch
• Silver AIME coordinated
campaigns
• Silver AIME radio
• Silver AIME websites
• People's Choice Award
A W A R D S

You deserved to win.
You did a great job and just as
important, actually delivered
business value with your
application. The big companies did too, but your application
was more impressive based on the creativity and the
results delivered on a limited budget.”
“JOSH BERNOFF
CO-AUTHOR OF GROUNDSWELL
FORRESTER RESEARCH

This is really working in
Alberta. How do you feel
about Currency offering
Young & Free to other
credit unions?”
“

JEFF MULLIGAN, CEO
You have to do this!”
“

YoungFreeAlabama.com
YoungFreeAlberta.com
YoungFreeAlaska.com
YoungFreeArizona.com
YoungFreeArkansas.com
YoungFreeBritishColumbia.com
YoungFreeCalifornia.com
YoungFreeColorado.com
YoungFreeConnecticut.com
YoungFreeDelaware.com
YoungFreeFlorida.com
YoungFreeGeorgia.com
YoungFreeHawaii.com
YoungFreeIdaho.com
YoungFreeIllinois.com
YoungFreeIndiana.com
YoungFreeIowa.com
YoungFreeKansas.com
YoungFreeKentucky.com
YoungFreeLouisiana.com
YoungFreeMaine.com
YoungFreeMaryland.com
YoungFreeMassachusetts.com
YoungFreeMichigan.com
YoungFreeMinnesota.com
YoungFreeMississippi.com
YoungFreeMissouri.com
YoungFreeManitoba.com
YoungFreeMontana.com
YoungFreeNebraska.com
YoungFreeNevada.com
YoungFreeNewBrunswick.com
YoungFreeNewfoundland.com
YoungFreeNewHampshire.com
YoungFreeNewJersey.com
YoungFreeNewMexico.com
YoungFreeNewYork.com
YoungFreeNorthCarolina.com
YoungFreeNorthDakota.com
YoungFreeNovaScotia.com
YoungFreeOhio.com
YoungFreeOklahoma.com
YoungFreeOntario.com
YoungFreeOregon.com
YoungFreePennsylvania.com
YoungFreePrinceEdwardIsland.com
YoungFreeQuebec.com
YoungFreeRhode Island.com
YoungFreeSaskatchewan.com
YoungFreeSouth Carolina.com
YoungFreeSouth Dakota.com
YoungFreeTennessee.com
YoungFreeTexas.com
YoungFreeUtah.com
YoungFreeVermont.com
YoungFreeVirginia.com
YoungFreeWashington.com
YoungFreeWestVirginia.com
YoungFreeWisconsin.com
YoungFreeWyoming.com
D O M A I N B U Y I N G S P R E E
YoungFreeAlberta.com

2006 2007 2009 20102008 2011 2013
Growth

Find me a
Larissa!”RON SHEVLIN
AITE GROUP
“

Make a big deal out
of everything

Prev. UserJob # Filename Last ModiﬁedMFCU2011 MFCU2011 - Web Banner TNL Coop.indd 10-4-2011 11:14 AM Kevin Castillo / Kevin Castillo
CURRENCY MARKETING PROOF 1Account Executive: Kate Davies
PARTNERSHIPS

Inspire people to creatively
spread the word

Make yourself the center
of the local universe

Be ever present on and offline

Don’t dismiss
traditional media

#1 Friend
#3 Facebook
#2 Radio
Where did you learn about
this opportunity?

Spend as much time in the
community as you do online

Deliver on the promise
of financial literacy

YOUNG & FREE DRIVES LOYALTY,
LOWERS AVERAGE AGE AND
GROWS WALLET SHARE

100of all survey respondents indicated
that they would recommend the Young
& Free Program to a friend
SOURCE: SERVUS CREDIT UNION
%

59TO 53In Alabama, Listerhill Credit Union lowered
their average age by six years after running
the Young & Free Program for three years
SOURCE: LISTERHILL CREDIT UNION

47TO 45The participating credit unions in Maine lowered
their average age by two years after running the
Young & Free Program for just one year
SOURCE: MAINE CREDIT UNION LEAGUE

The fastest growing age segment at Servus Credit
Union in Alberta is the 17-to-25 age group
SOURCE: SERVUS CREDIT UNION

7 VS 47% of Young & Free members have a
loan compared with 4% of those
without a Young & Free Account
SOURCE: SERVUS CREDIT UNION AFTER FIVE YEARS
% %

2.6VS 1.6Young & Free members tend to have
more products with the credit union

26Vantage Credit Union in St. Louis has loan
penetration of 26% of its 6,702 Young & Free
members totaling $5.8 million
SOURCE: VANTAGE CREDIT UNION
%

16of Young & Free members at the participating
credit unions in Maine have a loan, with an
average balance of $6,574
SOURCE: VANTAGE CREDIT UNION
%

3.5VS 2.7Young & Free members who are now “grown up”
have more products than those who never had
the Young & Free Account

Average revenue per year
Young & Free member
SOURCE: SERVUS CREDIT UNION, JULY 2012
115$
Average revenue per year
graduated Young & Free member
423$

There are now over
100,000young adults with products
and services associated
with Young & Free

We want to help
credit unions attract
1,000,000new young adult members

Recruit and engage young employees2
Offer relevant products and services3
Integrate your marketing4
Understand Gen Y and Gen Z1

Thanks!
Tim McAlpine
PRESIDENT & CREATIVE DIRECTOR
CURRENCY MARKETING

2013 Moving The Young Adult Needle

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2013 Moving The Young Adult Needle