Targeting Gen Z for Credit Union Growth

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Gen Z person holding phone and debit card from a credit union

Generation Z has grown up in times of financial uncertainty and especially these days, they are still feeling the impact of Covid-19 on their income. How can you serve Gen Z well in order to help your credit union growth strategy?

Now more than ever, Gen Z prioritizes becoming financially savvy and your credit union should be equipped to provide them with the solutions they’re looking for, helping you create loyal members for a lifetime.

Here are our expert tips on targeting engagement with Gen Z for credit union growth.

Centering Accessibility

Thanks to exponential tech advancements, Gen Z grew up in an “on-demand” environment and they’re used to being able to access anyone through phone, email, text, and chat.

Your credit union must not only have the technology in place to address these needs, but must also clearly convey the “on the go” convenience of this accessibility to your Gen Z customers via your marketing strategy to help differentiate yourself from competitors.

Providing Gen Z the flexibility to access your products and services when they want and how they want to across various platforms goes a long way in building loyalty among this generation.

Delivering Cutting-Edge Technology

On top of accessibility via tech, Gen Z also expects the latest-and-greatest retail banking technology hardware itself.

Having grown up with some of the best technology on the market such as smartphones, laptops, and iPads, Gen Z often expects the world around them, including their banking institution, to provide modern technology for speed and seamlessness in their interactions.

For financial institutions, a retail branch experience complete with modern displays, tablets, or self-service kiosks positions you as an up-to-date institution that’s ready to meet the fast-paced needs of modern members.

It may go without saying, but we’re going to say it anyway. Connect with Gen Z by creating a smartphone app. Creating an app for your credit union will make your services available even when you’re closed. When many credit unions were closed during the pandemic, members relied on their app for information and access to banking services.

A modern, user-friendly app guarantees a good experience for members outside of the branch.

Gen Z woman holding debit card using a computer for banking with her credit union

Promoting Your Debit Card

Many consumers seek sound financial advice from a trusted source, their banking institution. Most people that are a part of Generation Z are now directly affected by these unfamiliar times—which makes them want to become more financially educated to achieve their goals. They will look to their credit union to educate them.

Promoting your debit card with Gen Z members will help them understand how to budget their money for their future. As a credit union, it’s not only important to encourage debit card use among this generation, but also budgeting to ensure that they’re on the right track to being financially responsible.

By providing relevant financial advice, you form a connection that will continue to grow over time. And that’s a great way to leverage engagement with Gen Z for your credit union growth strategy.

Contact Us for Credit Union Growth Strategy

Reach out to our expert credit union consulting and branch optimization team today for help with targeting and reaching new members – we’ve guided credit unions for more than 20 years with a reliable data-driven approach to identify member demographics and optimal ways to foster their engagement.