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Filtered Research Reports

Young Adults In The Military

Those serving in the armed forces play an honorable role in protecting their country.  Unfortunately the financial profiles of these men and women differ from everyday civilians'.  Young adults in the U.S. military face unique financial challenges and are primed for credit union assistance. In this infographic we explore the...

Gen Y vs Gen Z: Understanding Key Differences

While engaging Gen Y has been a priority for credit unions in the last 10 years, it’s not too early to start thinking about capturing 'Gen Zers' as loyal members. Gen Z is made up of millions of Americans born in the mid 2000s to present day. Recognizing their importance...

Are Credit Unions Doing Enough to Help Young Entrepreneurs?

For years credit unions have pursued the goal of “getting younger”—and for good reason. With the average credit union member’s age hovering in the late 40s, Gen Y (18–35-year-olds) represents a prime opportunity for credit unions to continue the legacy of cooperative finance among newer generations. However, focused initiatives are...

What Millennials Want: The Future of Millennials in the Credit Union System

In a competitive marketplace, attracting the youngest generation is not just good business; it’s a survival imperative. Millennials 18–24 years old have been a key focus for credit unions over the last 10 years—and for good reason: There are nearly 71 million millennials, born between the late 1970s and early...

The Gender Gap: Troubling Financial Capability Findings among Women

The tide is coming in. As women work, earn, save, spend, and invest, they are becoming a more powerful driver of the US economy. Fully 58% of women in America were working at the end of 2012, up from 44% in 1972 (US Department of Labor 2015). And one estimate puts private wealth...

Helping Members Navigate College Costs

College signals success, at least for those who graduate. Holding a bachelor’s degree is one of the best determinants of higher lifetime earnings, and college graduates are almost uniformly positive about the value of their degree: 98% of those making six figures and up say their degree has paid off, and even 63% of...

Coming of Age: Young Adults in 2015

It's predicted by 2025 three out of every four workers globally will be millennials. By now, a majority of credit unions understand the importance of engaging young adults. But how? From innovative to simple, there are numerous strategies at your disposal to grow young adult membership. At the core of any...

Banking on Healthcare: The Credit Union Business Opportunity

As credit unions struggle to increase interest and noninterest income, they look wistfully at industries like healthcare, where revenue growth continues apace. America spends about 17% of GDP on healthcare, a percentage that has grown from about 14% in 2000 and 7% in 1970. The industry-wide move to electronic health records (EHRs) means that credit unions...

The Gen Y Imperative: Six Lessons for Australian Mutuals

As the baby boomers (born between 1946 and 1964) have moved through each decade of their lives, they’ve shaped the economic, political, and social landscape. As the boomers’ Gen Y children (born somewhere between 1980 and the mid-1990s) continue their own world-shaping journey, marketers are well aware that they “ain’t seen nothing yet” in...

Gen Y Personal Finances: A Crisis of Confidence and Capability

Generation Y is the largest, most diverse generation America has ever seen. Generation Y is made up millions of individuals born between the late 1970s and the mid 1990s. While this generation is young, ambitious, educated, and optimistic, many Gen Yers lack adequate personal financial management skills. As a result,...

Collaboration in Practice: 11 Credit Union Case Studies

Collaboration is one of the first solutions offered by roomfuls of credit union CEOs and leaders: “If we would just collaborate, we could...” Insert your own answer: gain market share, drive down expenses, become consumers’ favored financial institution. The list is long, and each goal comes with a grain of truth. We can do...

Next Generation Needs: Examining Credit Union Loyalty Among Young Adults

There’s an often overlooked difference between what attracts members and what keeps members. Credit unions regularly earn the financial services industry’s top honors for loyalty and satisfaction. It’s one thing to measure loyalty in general. But here the researchers are interested in the drivers of credit union loyalty among the coveted young...

Mind over Money: Measuring Health and Happiness among Credit Union Members

It's true: Mental well being and financial well being go hand in hand. This report plots the interrelationships between financial capability and psychological well-being among a sample of 1,600 adult credit union members in the United States. Not surprisingly, the findings suggest that members who appear to have lower financial...

In Search of Member-Friendly Noninterest Income

How does a credit unions build enough NII to guarantee that the river of net income doesn’t run dry? The goal of this brief is to balance two important credit union imperatives: the need for NII that supports the operating costs of the credit union, and the imperative that credit...

Exploring Cooperative Management

Credit unions are cooperatives, of course, but what does that mean in practice? On the one hand, a credit union looks a lot like any business in that it needs revenue to exceed expenses, members must be well cared for, and employees must be paid. But in very interesting ways,...

Big, Small, or Online? Young Adults’ Evolving Financial Preferences

Does your Website double as a ‘sales prevention tool’? If so, you need to fix that … and soon. Researcher Rob Rubin uses a 1,400-response survey to tease out the preferences online consumers, particularly young adults, harbor for their financial relationships. Learn why ‘good service’ often simply means ‘suitable’ electronic...

Reaching Generation Debt: New Products and Strategies

In Filene’s final CU Tomorrow brief we invite Anya Kamenetz, a staff writer at Fast Company magazine and the author of Generation Debt, to address the question: How can credit unions better serve young adults? Included is Kamenetz’s take on the core financial issues facing young adults in America and...

Chrome for Young Adults: Franchise Branching for Membership Growth

Gen Y is a key market segment for credit unions to reach in this recession. Its members still need loans and, compared with older Americans, fewer are deleveraging. The latest CU Tomorrow brief, Chrome for Young Adults: Franchise Branching for Membership Growth explores a retail delivery concept that uses modern...