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CU Snapshot

 Aug '17Jul '17
# of CUs5,708 5,893
Members
(millions)
112.7112.2
Total Assets
($ billions)
$1,372.1$1,383.7
Total Savings
($ billions)
$1,158.6$1,165
Net Cap.
Assets
10.8%10.7%
Loans to Savings82.3%81.5%
Loan Delinq.0.8%0.7%

         Credit Union Indicators

Win millennials' trust

Five tips for connecting with your young members and employees.

Millennials have the greatest value of any members you can acquire today, generational expert/researcher Jason Dorsey told credit union leaders at the 2016 CSCU Solutions Conference.

Dorsey, a millennial himself, offered these five insights to help credit unions connect with and influence millennials:

1. Millennials have a different concept of diversity. The generation is more diverse than any previous generation. "We are so diverse that we do not see diversity until it is absent," Dorsey said.

2. Millennials communicate differently. Their preferred methods of communication, in order, are text message, email, and social media. "Real friends don't call," Dorsey joked.

3. Millennials want to feel important to you. "Millennials think they're unique and special," Dorsey said. You should literally tell them they're "unique, special, and one of a kind," he said. "It works like magic. The biggest turn-off for millennials is to be treated like a number," or just another member.

4. Millennials are not linear thinkers. If you are walking a millennial through a five-step process, start with step five and work backwards. That's because millennials are outcome-driven. "Millennials are massively compliant if you show them the outcome first," Dorsey said.

5. Millennials are visual learners. If millennials don't understand your dress code, show them a picture. Provide specific examples of what you expect from them, and use visuals in your training. "They will learn faster and then you can hold them accountable," he said.

(Via news.cuna.org)