Credit unions worldwide are eager to connect with millennials—many of whom hold values that correspond with the credit union movement—through a new social media campaign. The World Council of Credit Unions announced the launch:
By 2017, millennials will be in their prime borrowing years and are expected to be the largest consumer spending demographic. To help credit unions tackle the global challenge of increasing young adult membership and to master the technology needed to serve them, the World Council of Credit Unions has launched the third phase of its Build the Brand initiative, which includes a new program, weCU2, with fresh digital strategies that will help credit unions better understand and engage with millennials—and vice versa.
With support from Vancity Credit Union, weCU2 kicked off with a special video address from Maggie Lin, Vancity marketing specialist, who introduced the program’s goals:
1. Familiarize and educate millennials on how their values correspond with credit unions’. Credit unions are unwaveringly loyal to their members and driven by their communities, rather than profit—a value proposition that resonates especially well with young adults.
2. Give credit unions a full understanding of millennials’ unique needs and “digital DNA.” Many millennials will pay more for convenience—no matter the institution. Credit union staff must learn who millennials are, and the latest in payment systems that deliver instant financial services.
WeCU2, the cutting-edge educational hub, will include a series of online podcasts with industry experts, interviews, videos, product case studies, Twitter chats, SlideShare presentations, an interactive blog and direct millennial feedback from around the world. An in-person event will take place in July at the 2015 World Credit Union Conference, co-hosted by the Credit Union National Association and World Council in Denver, Colorado.
WeCU2 (pronounced, “We see you, too”) represents credit unions’ commitment to connect with millennials in an effort to better recognize, understand and interact with one another. The program will offer successful marketing strategies to attract young adults, whose communication methods and disinterest in traditional media have caused difficulties for many credit unions—despite young adults’ closely aligned personal values with cooperative principles.
“Youth and technology are key elements to growing our industry,” said Victor Corro, Worldwide Foundation for Credit Unions vice president. “World Council recently challenged the global community to add 50 million new members by 2020. This initiative not only raises awareness of that challenge, but also provides best practices for membership growth. We are very grateful for Vancity’s generous support of this important program.”
Sam Maule, emerging payment systems expert, will facilitate the initiative with Worldwide Foundation for Credit Unions staff. Maule is an active online voice within the financial technology field with years of international business experience in leading digital payment, mobile and financial services projects. He is recognized as one of Bank Innovation’s 2013 Banking Innovators To Watch.
Stay connected throughout the program—now through 2015—by using the hashtag #weCU2.