FARMERS BRANCH, Texas (12/13/13)--Women, particularly younger ones who are entering the work force, need credit union services that adapt to their busy and ever-changing lives, according to two marketers from Cornerstone Credit Union League.
Lorraine Howard, vice president of marketing, Diamond Lakes FCU, Hot Springs, Ark., and Rochele Drake, vice president of marketing, Fort Worth (Texas) Community CU, offered advice on how to reach Millennial females (Leaguer Dec. 12).
"Women, young women particularly, are holding the family wallet, paying the bills and contributing to the family bottom-line more and more," said Howard in the article. "Working with single mothers through the local community college has shown me, first hand, the determination young women have to get an education and pave the way for a better life for their family."
The $59 million-asset credit union focuses on mobile and Internet banking, electronic bill pay, and even person-to-person payments and transfers. Education loans for community college classes are important, as well as loans for a demographic that is currently on pace to match the wage level of men in the work force, Howard said.
Fort Worth Community CU engages women with its digital "spokesgal," Gabby.
"We know that women make 80% of all financial decisions; therefore, women are an essential demographic for our credit union," Drake said. "Women talk to one another. We share secrets and advice with one another. Gabby is that girlfriend who shares information."
Gabby's blog, GetYourWorthOn.com, has had about 30,000 visits. Gabby is meant to be engaging, not sales-focused. "She was never intended to push any particular product or service of the credit union," noted Drake.
Gabby has been so successful that the $813 million-asset credit union just launched "That's Spot On," aimed at Gen Y and defining the credit union difference.