Kristen Christian, founder of Bank Transfer Day and community delvelopment consultant for Water & Power Community CU
Absolutely, the moment is still here. I was speaking with a young woman the other day who is a target demographic for credit unions – she’s young, she’s hip, she’s a millennial and she’s on the verge of purchasing her first home – and it was interesting because she said “I don’t want to be with the big banks, but I don’t know what my options are.” I think that’s still a conversation we need to be having, and explaining ot people the idea of what a credit unions is.
The biggest selling point we have as credit unions is that actions speak louder than words, especially with millennials. The words “financial cooperative” really hit home with a lot of young consumers, because they know what a cooperative is, so tying ourselves in with that is a huge help. Beyond that, explaining the value of the not-for-profit model…don’t just harp on what the banks do wrong, but show what credit unions do right. Let’s show everybody who we are and what we stand for, because that will resonate.