Every credit union marketer knows that the best way to sustain growth and financial viability of the organization is to attract new members who will stay loyal to the credit union throughout their life. This strategy has worked well, but as members age, the challenge is to attract younger generations that are looking for different types of products than existing members. Attracting Younger Members Requires Innovation and Listening By Sheryl S. Jackson Enhanced technology, new products, educational offerings and convenient services are all important to younger members but reaching the Gen Z market is not easy due to their age, stage of life and influence, or lack of influence, from parents. Members of Generation Z—or Zoomers— were born between the mid- to late-90s and 2010. They are the first generation to be considered “digital natives” because they have had access to the internet and portable digital technology since birth. Generally, they are concerned about academic success and job prospects, and they are willing to delay gratification more than previous generations.1 They do, however expect to use technology in all areas of their lives. Reaching Gen Z members is part of business-as-usual for credit unions with ties to universities. While these institutions also serve faculty, staff and alumni of the schools, a key part of their marketing efforts are directed at students aged 17 to 25. 14 THE NAFCU JOURNAL NOVEMBER–DECEMBER 2022
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