A recent poll by Harvard's Institute of Politics found that young adults are worried about meeting their most basic needs.
Gen-Y, typically associated with optimism about the future, isn't singing their usual tune. A recent study conducted by Harvard's Institute of Politics and highlighted in this New York Times article, found that a "deep sense of gloom" is setting in:
"...six out of 10 of those surveyed worry they may not meet their current bills and obligations. Nearly half of those attending college wonder whether they will be able to afford to stay in school. And more than eight out of 10 said they expect difficulty finding a job after graduation."
Forty-five percent of young adults surveyed said that the economy was their chief concern.
For credit unions, angst among young adults could open doors for engaging new relationships. The difficult part is getting them to listen. It's estimated that by the time today's young adult reaches the age of 21, they're subjected to over 23 million media messages, making them extremely effective at tuning you out. To combat this, your credit union will need to develop your own authentic voice and outreach strategy. Through innovative product offerings or basic financial education, your goal should be to help young members make the most of their "dire" situation.
If you're looking for more information on how credit unions and other organizations are accomplishing this effectively, email me or give me a call at 800.446.7453. We have plenty of resources available!