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Filtered Research Reports

America’s Got Talent: Attracting It is the Challenge

In an effort to address the challenge of attracting and retaining talented employees, Filene hosted a day-long colloquium dedicated to sharing new insights and best practices for credit unions' efforts in talent attraction. This report summarizes presentations on the following: Developing your credit union's brand story and using it to...

The Embedded Credit Union Model for Low-Income Teens

A systemic problem in many low-income, urban communities is the lack of accessible financial services. Low-income teenagers-in particular-are living in financial service deserts. Not only are there very few banks and/or credit unions in low-income communities, financial alternatives such as payday loan and check-cashing centers are thriving. This research explores the...

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...

Rightsizing Big Data for Credit Unions

Do you think your credit union is data savvy? Or do you have a huge challenge ahead to become more data competent? Click on the assessment tool above to find out where you’re at and get some tips on how to be a more data-driven credit union. This report explores...

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...

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...

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,...

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...

Engaging Young Adults: Insights from Thrivent Financial

A few years ago, Thrivent Financial for Lutherans woke up to a new problem. On one hand, the organization had built itself into a high-performance Fortune 500 company, grown membership to more than 2.5 million people, consistently received (and still receives) many of the highest possible ratings in financial services,...

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...

Delivering Financial Education to Graduating College Students

Despite significant investments in financial education in the United States over the past 10 years, young adults lack adequate knowledge of personal finance facts and tools to navigate the financial marketplace. In this special report made possible, in part, by PSCU Financial Services, researchers Bob Hoel and Ron Smith found...

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...

Attracting and Retaining Young, High-Potential Employees

In Attracting and Retaining Young, High-Potential Employees, by Ben Rogers, Filene surveyed more than 200 credit union professionals younger than 30 and gained insights into their relationships with their employers. These young professionals are impressed with their credit union’s commitment to their members and communities. On the other hand, many...