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By Marketing Partners
Although youth development is critical for growth, most credit unions do not have a comprehensive generational marketing plan. That's surprising when you consider that credit union memberships nationwide are growing older every year.
The average member age is now 47 1/2. If your credit union's average age is lower, you're ahead of the trend. But if it is not significantly lower, and your youth growth rates are not significantly higher than the national averages, you should make attracting younger members a priority.
You need to develop a Youth Marketing Plan strategy that includes the necessary research and marketing tactics. Many credit unions have not dedicated nearly enough resources to this goal. When they do amazing results can be achieved. Here's a look at what should be included in a plan to attract and retain younger members.
To assist credit unions with this goal, Marketing Partners will be introducing the most innovative program to attract young members to ever hit this industry in early 2009. Musicstream LIVE will combine live concerts sponsored by local credit unions in high schools, colleges and community events. Many of these concerts will be streamed live to the MSL website. This site will allow visitors to interact live with each other and will contain an ongoing schedule of interviews and live entertainment content.
With music being the main tool to get the attention of young potential members, musicstream LIVE will tactfully "cross-educate" visitors about money management, financial literacy and credit unions. A variety of major national organizations and CU industry companies are partnering in this initiative. MSL is in the final stages of development so stay tuned for details.
This sponsored content article is provided to the credit union community for shared insights and knowledge from a recognized solutions provider in the industry. Please note that the views and opinions offered here do not reflect those of Callahan & Associates, and Callahan does not endorse vendors or the solutions they offer.
If you are interested in contributing an article on CreditUnions.com, please contact our Callahan Media team at firstname.lastname@example.org or 1-800-446-7453.
September 8, 2008
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