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Filene CUs can become Gen Y-ers lifelong partner
FARMERS BRANCH, Texas (4/18/08)--Credit unions are positioned to help younger generations achieve success and become their lifelong financial partner, George Hofheimer, chief research officer for the Filene Research Institute, told the Texas Credit Union League (TCUL). Hofheimer spoke at the TCUL’s 74th Annual Meeting and Expo in Houston this week. He led a panel discussion with Generation Y and credit union staff members who shared their ideas about attracting the younger generation (LoneStar Leaguer April 17). “Credit unions are about serving those younger generations and meeting their needs,” Hofheimer said. While people need to network, young adults “do it differently,” said Hofheimer. Trey Reeme, director of channel integration for Texas Dow Employees CU, Lake Jackson, agreed. He told how young people view information on the Web through social networking sites such as Facebook. Credit unions should adapt to these trends because they will be important in the future, Reeme said. “Mobile business is coming but branches aren’t dead,” he said. “Integration will be key.” Filene is planning a series of monthly releases, Business Briefs, that can be downloaded from www.filene.org. The briefs describe the issues young adults face and will be available soon, Hofheimer added.
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