August 10, 2021
The average age of a credit union member is 47. What is your credit union doing to prepare for the future and attract younger members?
Credit unions are currently missing an opportunity to bring young adults into their ecosystem. The overwhelming majority of millennial and Gen Z consumers would consider getting all their financial services from a single bank or credit union. Amid intensifying competition, including from big tech, credit unions need to set themselves apart and demonstrate their unique value.
Gen Z is projected to grow to 51 million by 2030 – and already has an estimated spending power of up to $143B. Furthermore, as of 2021, almost half of U.S. labor force participants are young adults (Gen Z or millennial).
Still can’t wrap your head around what makes these younger generations tick? Zogo's user base is 80% Gen Z and millenials. 71% of Zogo users report stronger loyalty to the sponsoring credit union, and 10-15% of non-members report interest in becoming a member. In this session, Zogo will outline some concrete strategies for understanding, reaching, and connecting with your next generations of members. Then hear from PSCU on how they have used Zogo with their membership.