What Gen-Y Knows About Banks & Credit Unions

If you want to know how Gen-Y feels about banking and financial institutions, just ask them. That’s what these three vendors in the financial industry did. They grabbed their cameras and hit the streets. Some of these videos were shot over a year ago. But has anything changed since then?

“What Is a Credit Union?”

Producer: Callahan & Assoiciates
Running Time: 4:49

Callahan & Associates sent its CYouth team out to ask Gen-Y what they know — and don’t know — about banks and credit unions. And guess what? Gen-Y doesn’t know the difference the difference between banks and credit unions.

Key Excerpt: Interviewer: “What do you think would be the biggest thing potentially holding you back from joining a credit union?” Gen-Y answer: “Umm, I’ve just never had any knowledge of them before. I’m not familiar with them.”

“This is Generation Y”

Producer: Weber Marketing Group
Running Time: 4:06

Weber Marketing Group created this video with a series of brief Gen-Y interview vignettes capturing Gen-Y thoughts about financial institutions.

Key Excerpts:

  • “Our parents set up our accounts.”
  • “When I go in to talk to [my bank], they aren’t friendly or helpful whatsoever. They talk to me like I’m stupid, pretty much.”
  • “Honestly, I don’t know very much about credit unions.”
  • “I’ve heard there are lots of benefits with being at a credit union, but I don’t have any idea what those are.”

“I Know Y – Getting to Know You”

Producer: The Garland Group
Running Time: 6:50

Major takeaways:

  • Gen Y isn’t really clear how they choose their financial institutions.
  • Gen-Y wants improved performance and functionality for online banking platforms.

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