Fun trip to the Hoosier CUES Conference, sponsored by the Indiana CU League on July 17, when Nicolette presented, “Do You Speak Millennial? So How Millennial, Gen Xer, Boomer Are You?” Great group of credit union executives and managers who were a good cross-generational mix!
From the session, here are a couple items impacting your credit union:
- Did you know that Boomers control 75% of the wealth today?
- A key fact about Gen X is that it is 11% smaller than the Boomer generation, so they cannot replace the lending and saving dollars of the Boomers.
- Gen Y/Millennials are poised to be even bigger than the Boomer generation but they are being romanced with new, digital/mobile services that could shift them away from traditional banking for most of their needs.
While we all hear about the generations, do you really know what strategy you need for marketing and cross-selling for each, what makes each tick or how to secure the rest of the Boomer biz and Gen Y? Your front-line staff is likely a mix of generations who then turn around and serve members of each of the generations. There are differences that can help your credit union build better, more profitable relationships.
FREE Webinar Version — “Do You Speak Millennial? — August 7
For a brief Webinar version of the presentation, visit cumarketingunviersity.com to register or learn more as part of our Marketing Planning for 2015 special bundle.
Special Guest – Amanda Koepke for The Millennial Perspective