Comments on: What Gen-Y Knows About Banks & Credit Unions

By: David Kreiman

David Kreiman — Tue, 16 Mar 2010 20:47:22 +0000

Excellent videos. I agree 100% with Carol – so much more effective than a “white paper”. I would love to see one geared solely towards high school students ages 16-18!

By: Nathan Tothrow

Nathan Tothrow — Tue, 16 Feb 2010 14:05:18 +0000

We saw this same result from focus groups across all age demographics three years ago; the consumer doesn’t understand credit unions. I believe this owes partly to credit unions’ tenacity in claiming for years that they are “not” banks. Unfortunately, the consumer categorized banks, S&Ls, savings banks, et al into a group of “financial institutions” which they understand to offer banking services. In another group, they place credit unions, which they don’t understand at all. When the consumer goes shopping she finds all those other institutions on the “banking services” shelf while we in the CUs have placed ourselves across the store on the laundry detergent aisle.

This makes the marketing job for CUs twofold: 1) bring the consumer up to speed on CUs and help position ourselves on the “banking services” shelf, and 2) pitch our value proposition.

This division of understanding will become even more challenging with Gen Y’s as we work to discern from where they are taking their buying decision cues.

By: Gen Y to Banks: “Be Nice” | Millennial Marketing

Gen Y to Banks: “Be Nice” | Millennial Marketing — Thu, 11 Feb 2010 19:48:52 +0000

[...] remarkable videos posted on the blog, “TheFinancialBrand“, all suggest how little Millennials really understand about banks and credit unions. They [...]

By: CU Water Cooler » Blog Archive » CU Water Cooler – 2/5

CU Water Cooler » Blog Archive » CU Water Cooler – 2/5 — Fri, 05 Feb 2010 13:13:00 +0000

[...] • What Gen Y Knows About Financial Institutions [...]

By: Editor

Editor — Fri, 05 Feb 2010 03:30:18 +0000

Thanks Carol.

For those who don’t know Carol, she is a marketing professor at Notre Dame. She specializes in Gen-Y marketing. She has a brilliant blog, and you can follow her on Twitter for excellent insights into the Gen-Y mind.

b: http://millennialmarketing.com/
t: http://twitter.com/carol_phillips

By: Carol Phillips

Carol Phillips — Thu, 04 Feb 2010 22:09:11 +0000

Thanks for these terrific videos. They do more than a pile of reports ever could to spotlight the opportunity Credit Unions have to build relationships with Gen Y.

Carol Phillips
@carol_phillips