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N.Y. CUs meet on Young Adult Outreach Initiative
ALBANY, N.Y. (11/3/09)--Participants in the Credit Union Association of New York’s Young Adult Outreach Initiative recently held their final session at the association’s Albany headquarters. The session was the culmination of a five-month program focused on the young adult market.
Click to view larger image The Credit Union Association of New York recently wrapped up its Young Adult Outreach Initiative. From left are: Kip Summerlin, Columbia Greene FCU; Jennifer Habecker, Family First FCU; Teri Mulverhill, North Franklin FCU; Jody Carpenter, UFirst FCU; and Megan Armstrong, Sunmark FCU. (Photo provided by the Credit Union Association of New York)
In partnership with the Filene Research Institute and through REAL Solutions, the association offered the free program to New York credit unions interested in pursuing the young adult market to grow membership, and recruiting and retaining talented young professionals and volunteers. The youth program began in June with an informational webinar by Ben Rogers, research director for the Filene Research Institute. Rogers led the program’s live webinars and in-person meetings. “Credit unions that look beyond the membership challenge to provide great opportunities for young professionals and young volunteers will innovate faster and position themselves as financial institutions of choice for consumers,” Rogers said. Forty-five individuals from 28 credit unions participated in the program. They focused on assessments, brainstorming ideas about young adult issues, goal setting, identifying and/or creating transaction products and loan products for the young adult market, and using social media. During the final session, participants presented the findings of their young adult focus groups, their goals, what they’ve accomplished and their young adult outreach plans for 2010 and beyond. Each credit union recognized the importance of product bundling to attract its target audience and using parents, who are already loyal credit union members, to reach the youth market. Participants also found that credit unions of various sizes and memberships can use the same principles to attract youth. Participants also reported that their credit union CEOs and board members were more supportive of their young adult initiatives after seeing findings and future outreach plans they created as part of the program. “We felt the Filene program on youth outreach hit all of the important aspects that credit unions are searching for within this demographic,” said Sue Siegel, Sunmark FCU senior vice president of marketing and retail operation. “Credit unions are making huge strides in reaching out to the youth marketplace.”
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