"Focus: Banking & Finance" piece on the aging membership of credit unions, and e

Brandi Neal

Source

Mainebiz

Date

12-10-2007

Pages

30-32

Abstract

"Focus: Banking & Finance" piece on the aging membership of credit unions, and efforts to woo Generation Y consumers in their place. Steve Van Rensselaer, vice president for marketing at Atlantic Federal Credit Union in Brunswick, acknowledges that in courting baby boomers, the industry has missed a whole generation. Gen Y, which refers to individuals born between 1981 and 1995, have become the key demographic credit unions in Maine are looking to recruit. John Murphy, president and CEO of the Maine Credit Union League, cites both education and financial products that can be marketed toward younger generations as equally important tools in attracting younger members. Adam Morris, marketing manager of Five County Federal Credit Union, cites technology and e-services as ways to attract new members. With additional comments by Luke Labbe, president of PeoplesChoice Credit Union.

Subjects

Credit unions, Demography

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