Demographic Shifts Provide Challenges, Opportunities

In addition to ethnic changes, the U.S. is also experiencing dramatic social change.

September 18, 2012
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While the U.S. established its reputation as a melting pot centuries ago, the nation is more diverse today than ever before.

And with this mélange emerges credit unions’ latest challenge: reaching and engaging a more diverse populace, according to CUNA’s 2012-2013 Credit Union Environmental Scan.

The most significant demographic trends influencing credit unions:

In addition to ethnic changes, the U.S. is also undergoing dramatic social change. The traditional “family” is a thing of the past. Credit unions need to adapt their products, services, and marketing materials to stay current with social changes.

Some key social changes:

Serving the changing American landscape will require credit unions to be technologically agile and adept in the use of social media platforms.

Women As Influencers

Mark Arnold
September 18, 2012 9:28 am
These are outstanding points--ones credit unions must consider. More than ever, women are influencing the financial decisions of the households. If credit unions want to reach new members, then target females (they'll bring the men along with them).

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