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CU Snapshot

 Mar '18Feb '18
# of CUs5,5965,757
Total Assets
($ billions)
Total Savings
($ billions)
Net Cap.
Loans to Savings81.5%82.6%
Loan Delinq.0.8%0.9%

         Credit Union Indicators

Engage the Rising Tide of Gen Y Investors

Meeting investment needs today can pay off in the future.

Fill Gen Y's gap in investment knowledge by serving as financial advisers, said Gary Weuve, vice president of The Center for Advisor Excellence, CUNA Brokerage Services, at the America's CU/World CU Conference.

"Meeting Gen Y's insurance and investment needs today can have greater payoff in the future," Weuve said.

The 80 million consumers who make up Gen Y will hold almost $30 trillion in investments, Weuve said. According to CUNA Mutual Group's "Be in the Moments" research, 60% plan to open a retirement savings account before age 26, 52% plan to open a college savings account for their children and 41% plan to purchase a life insurance policy.

Investing in a retirement plan supersedes other priorities such as starting a family, buying a house, and purchasing a car, Weuve said.

He suggested three ways to engage this rising tide of investors:

1. As a group, Gen Y has a herd mentality, yet values customization; evaluate direct and social marketing campaigns to align accordingly;

2. Take advantage of Gen Y's motivation to self-organize friends and colleagues for grassroots activism to align credit union products and services with those values; and

3. Focus on the personal connection and meaningful benefits of the credit union as a banking alternative.