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Fed government announced its offices in Washington,DC area will be closed Wed. due to bad weather--the third day in a row for such closings.
The Golden 1 CU, Sacramento, takes mega-banks to task with billboard ad campaign. Wed NN.
THe U.S. House Majority Leader has announced there are no votes expected in the House this week.
Vote for 2010 ICU Day Theme. http://www.cuna.org/icuday
The federal government is closed today due to continuing snow. CUNA's Washington office is closed. Its Madison, Wis., office remains open.
Gen Y ranks traditional services as more important
PLEASANTON, Calif. (8/20/07)--Though often noted as the "tech-savvy" group, Generation Y prefers more traditional banking methods, a recent study indicated.
A study conducted by Javelin Study and Research, based in Pleasanton, Calif., surveyed members of Gen Y to get their opinions on traditional versus non-traditional banking methods. Surprisingly, study participants rated access to ATMs and physical branches as more important than access to online transaction services (MediaPost Aug. 17).
The study's authors encourage financial institutions, such as credit unions, to plan long-term with Gen Y.
Jean Garascia, study author and Javelin research analyst, said that financial institutions should be upfront with Gen Y members and explain how their needs will be met, instead of just what is offered.
Gen Y members have "high expectations," and they want their financial institutions to help them save time in banking, she added.
Other findings include:
- Gen Y is not motivated by security threats, and is more likely to be victims of fraud because they do not take as many precautions;
- In the last year, 80% of Gen Y members visited an ATM, 59% used a telephone banking service and 90% visited a branch; and
- Gen Y's population is likely to be greater than any other generation by the year 2017, with 91 million.
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