In a video that kicked off weCU2, Vancity CU Marketing Specialist Maggie Lin explains the program’s goals.
MADISON, Wis.—To help credit unions tackle the global challenge of increasing young adult membership and master the technology needed to serve them, the World Council of Credit Unions (WOCCU) has launched weCU2.
weCU2 is a program within the third phase of WOCCU’s Build the Brand initiative. The educational hub offers new digital strategies to help credit unions better understand and engage with millennials—and vice versa. weCU2 will include a series of online podcasts with industry expert interviews, videos, product case studies, Twitter chats, SlideShare presentations, an interactive blog and direct millennial feedback from around the world.
"Youth and technology are key elements to growing our industry," said Victor Corro, Worldwide Foundation for Credit Unions vice president, in a release. "World Council recently challenged the global community to add 50 million new members by 2020. This initiative not only raises awareness of that challenge, but also provides best practices for membership growth.”
By 2017, millennials will be in their prime borrowing years and are expected to be the largest consumer spending demographic, WOCCU noted. The program's goals are to familiarize and educate millennials on how their values correspond with credit unions' and give CUs a full understanding of millennials' unique needs and "digital DNA."
WOCCU added that many millennials will pay more for convenience—no matter the institution—and that credit union staff must learn who millennials are, and the latest in payment systems that deliver instant financial services. Sam Maule, emerging payment systems expert, will facilitate the initiative with Worldwide Foundation for Credit Unions staff.
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