Bouncing Back After the Recession

CUs’ top planning strategies include proactive lending and mobile banking.

June 27, 2013
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10. Gen Y’s low awareness levels
How successfully credit unions attract the 100 million members of Generation Y—people born between 1981 and 2000—will go a long way toward determining the movement’s future viability.
Credit unions must raise Gen Y’s awareness levels. CUNA’s research from April 2013 shows that nearly half (45%) of nonmembers ages 18 to 24 are “not at all familiar” with credit unions. Another 26% are “not very familiar,” and 20% are “somewhat familiar.” Only 8% are “very familiar.”

On the upside, credit unions’ not-for-profit, cooperative business model resonates with Gen Y. These consumers also value the financial guidance and advice available at branches. Credit unions must communicate their Gen Y approach to those prospective members via an effective social media strategy that employs Twitter, customized text messaging, blogs, and online social communities.
They also must connect with Gen Y’s most trusted financial advisers—their parents—using channels appropriate to that generation.

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Great article! Unfortunately, most employees don’t feel valued or appreciated by their supervisors or employers. In fact, research has shown that the predominant reason team members quit their jobs is because they don’t feel valued. This is in spite of the fact that employee recognition programs have proliferated in the workplace – over 90% of all organizations in the U.S. has some form of employee recognition activities in place. But most employee recognition programs are viewed with skepticism and cynicism – because they aren’t viewed as being genuine in their communication of appreciation. Getting the “employee of the month” award, receiving a certificate of recognition, or a “Way to go, team!” email just don’t get the job done. How do you communicate authentic appreciation? We have found people have different ways that they want to be shown appreciation, and if you don’t communicate in the language of appreciation important to them, you essentially “miss the mark”. Additionally, employees need to receive recognition more than once a year at their performance review. Otherwise, they view the praise as “going through the motions”. A third component of authentic appreciation is that the communication has to be about them personally – not the department, not their group, but something they did. Finally, they have to believe that you mean what you say. How you treat them has to match the words you use. If you are not sure how your team members want to be shown appreciation, the Motivating By Appreciation Inventory ( will identify the language of appreciation and specific actions preferred by each employee. You then can create a group profile for your team, so everyone knows how to encourage one another. Remember, employees want to know that they are valued for what they contribute to the success of the organization. And communicating authentic appreciation in the ways they desire it can make the difference between keeping your quality team members or having a negative work environment that everyone wants to leave. Paul White, Ph.D., is the co-author of The 5 Languages of Appreciation in the Workplace with Dr. Gary Chapman.

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