Demographic Shifts Provide Challenges, Opportunities

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

September 18, 2012

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.