As credit unions build strategies for growth into the future, most are exploring opportunities to attract and retain the next generation of members. According to CUNA’s 2014-2015 National Member and Non-Member Survey, the average age of credit union members is 48.5 and only 7% of credit union members are in the 18-24-age bracket. The industry has been talking about this challenge for many years. The It’s a Money Thing pilot was developed in an effort to put research into action so that credit unions can better engage their future members.
This study looked at one financial literacy solution, piloted by the Filene Research Institute from the fall 2014 through the summer of 2015, called, “It’s a Money Thing,” a program developed by Tim McAlpine of Currency Marketing.
It’s a Money Thing is a collection of effective and affordable financial education content cleverly designed to engage and teach young adults. It is e-delivered to the credit union monthly and includes a video, an article, an info-graphic, a presentation, and a handout. Credit unions use it in schools, in the community, at the branch, in newsletters, on their website, and in social media.
The goal of It’s a Money Thing is to help credit union’s engage and build relationships with young adults (Gen Y) while helping them become financially capable. Our hypothesis was, if high quality financial literacy content is clever, concise, and easily accessible will it be adopted?
Join us for this webinar, which will give you an overview of the "It’s a Money Thing: Clever financial education content increases engagement" report. It details the use of the program among ten early adopting credit unions, as well as shares the feedback from 460 focus group respondents asked about It’s a Money Thing.
Register for this webinar now!