2013 moving the young adult needle

Moving the Young Adult Needle

Tim McAlpinePRESIDENT & CREATIVE DIRECTOR

CURRENCY MARKETING

CREDIT UNION MAGAZINE, APRIL 1969

Although the average age of today's population is getting younger, the average age of today's credit union member keeps creeping upwards. But credit unions can remain young—in thought, service and membership—by serving today's youth as well as their aging membership.”

“

In 1972, the National Youth Involvement Board was created to obtain grassroots input from individuals working in credit unions and leagues and to create a national system for the dissemination of information and resources regarding youth participation in the credit union movement. This was due to the average age of credit union members rising in the 1960s. Credit union leaders recognized the need to reach out to young people to ensure a bright future for the movement.”

“

A.M. 1. Gen Y and Z2. Young adult staff

P.M. 3. What young adults need4. Young & Free update

• Founded in 1990• Based in Canada• 80% of business is in U.S.• 100% credit unions

29 and counting!

currencymarketing.ca/think

What makes Gen Y and Z tick?

1

Silent1928-1945

Baby Boomers1946-1964

Gen X 1965-1979

Gen Y1980-1996

Gen Z 1997-Now

78million

GEN Y

50million

GEN X

76million

BABY BOOMERS

23million

GEN Z

7 more years left in this generation

SOURCE: CUNA, CUCC, U.S. CENSUS, WIKIPEDIA

35

NORTH AMERICANAverage

ageThe great

divide

48UNITED STATESCREDIT UNION

MEMBER

CANADIAN CREDIT UNION MEMBER54

0

3

5

8

10

1989 1996 2000 2002 2006 200817of the population is

between 18 and 24

%

SOURCE: CUNA MARKET RESEARCH

4%of credit union members are between 18 and 24

40 TRILL

ION

BOOMERS

$

X + Y

anti hype technology confident spenders savvy cool goals college

respect planning influence truthful authenticity distrust forward

thinking family questioning quality media university wary friends

fun world view connected anti hype technology confident spenders

savvy cool goals college respect planning influence truthful

authenticity distrust forward thinking family questioning quality

media university wary friends fun world view connected anti hype

technology confident spenders savvy cool goals college respect

planning influence truthful authenticity distrust forward thinking

family questioning quality cool truthful truthful confident savvyYGEN

Gen Y‣ Follows Generation X

‣ Largest generation in history

‣ Born from 1980 to 1996 (17 to 33 in 2013)

‣ Socially conscious

‣ Distrust companies and media

‣ Could care less about credit unions!

Gen Y‣ Entering and finishing college

‣ Finishing college and university

‣ Planning five years ahead

‣ Looking forward to relationships

‣ Confident but wary

‣ Practical world view

‣ Goal oriented

Gen Y‣ Respect parents and education

‣ Shopping is an event, not a chore

‣ Raised on texting and IM

‣ Social networking is huge

‣ Open to spirituality

‣ Indifferent to Christianity

anti hype technology confident spenders savvy cool goals college

respect planning influence truthful authenticity distrust forward

thinking family questioning quality media university wary friends

fun world view connected anti hype technology confident spenders

savvy cool goals college respect planning influence truthful

authenticity distrust forward thinking family questioning quality

media university wary friends fun world view connected anti hype

technology confident spenders savvy cool goals college respect

planning influence truthful authenticity distrust forward thinking

family questioning quality cool truthful truthful confident savvyZGEN

Gen Z‣ Follows Generation Y

‣ Born from 1995 to 2011 (2 to 18 in 2013)

‣ Smaller than Generation Y

‣ Only knows of a world with the Internet

‣ Faces a dismal economic picture

Growing up digital‣ Constantly connected

‣ Phone serves as everything hub

‣ Internet access mostly via computer

‣ Still regular TV watchers

‣ Digital connections trump money, music, movies

‣ Reluctant to disconnect

Growing up digital‣ Legally or not, Facebook is the place to be

‣ Constantly chatting, often online

‣More at ease socializing online than offline

‣ Spenders first, savers second

‣ Sensitive to family’s financial situation

‣ Parents have mixed feelings about social networks

Growing up digital‣ Both online and offline shoppers

‣ Parents usually pay online

‣ Tethered to parents for shopping

‣ Economic concerns weigh heavily

‣ Girls more concerned about war and crime

‣ Pessimistic about the near term

Young adult staff

2

Typical staff pictures

Typical board pictures

National Youth Involvement Board

nyib.org

World Council’s Young Credit Union People (WYCUP)

woccu.org

CUES Next Top Credit Union Exec

ntcue.com

The Cooperative Trust

trust.coop

Crash the GAC

crashthegac.com

CU Water Cooler

cuwatercooler.com

Positive energy and a palpable sense of frustration

“I’m out!”

I wanted to stay, but I had to better myself.”

YOUNG MALE MARKETER WHO RECENTLY LEFT A $90 MILLION CREDIT UNION FOR

A CAREER IN ANOTHER INDUSTRY“

We see this huge opportunity to turn this very archaic industry into something huge, but we all see the same brick wall from our credit unions.”

YOUNG MALE MARKETER WHO RECENTLY LEFT A $90 MILLION CREDIT UNION FOR

A CAREER IN ANOTHER INDUSTRY

“

I decided I wanted to move into a leadership role at another credit union but this proved impossible. I reached out to so many contacts I met at conferences. I spent almost a year sticking it out at my credit union waiting for an opportunity to come along. I just had to give up. I was afraid I was going to be stuck in a position being a lackey forever. I really didn’t want to leave the industry but it was a life decision for me to better myself and to take my talent to a place that it could be used effectively.”

YOUNG MALE MARKETER WHO RECENTLY LEFT A $90 MILLION CREDIT UNION FOR

A CAREER IN ANOTHER INDUSTRY

“

“I’m mobile and it was time for a change”

Sometimes no matter how much you love and adore your family and your job, you just can’t stay in the city you grew up in. You have to spread your wings a little bit and attempt to follow your own calling.”

YOUNG WOMAN WHO’S FATHER IS A CREDIT UNION CEO—SHE LEFT HER CREDIT UNION TO MOVE TO A DIFFERENT CITY AND A

POSITION WITH A LARGE POST-SECONDARY INSTITUTION

“

“We aren’t like our parents, stuck in a rut

for our whole life.”

Mark Zuckerberg

Jack Dorsey

Title here

I wonder if the accessibility to information, the mobility of the workforce and the global awareness of a multitude of complex issues leads some of my generation to say, ‘I’ve contributed to the tackling of thesefinancial issues; maybe I’ll tackle something else for a while; the world needs me!’”

BEN IS AN ADVISOR AT $800 MILLION MENNONITE SAVINGS AND CREDIT UNION, ONTARIO, CANADA

“

“My credit union doesn’t behave like

a credit union.”

The bill of goods that has been sold to young credit union professionals is that our model puts our members first (and profits last). What’s hard to understand, however, is why our response to the economic collapse has been so similar to that of the banks we were told had business models that were completely foreign to ours.”

MATT DAVIS,INNOVATION DIRECTOR AT THE FILENE RESEARCH INSTITUTE,

MADISON, WISCONSIN

“

“I love credit unions, but I can’t stand my credit union.”

The thing that excites me the most and keeps a fire in my belly for this industry? What credit unions can be. What we’re capable of. It’s easy to see this and be swept off our feet by looking at credit unions that are living that right now.”

BRENT DIXON, YOUNG ADULT RESEARCH ADVISOR AT THE FILENE RESEARCH INSTITUTE

AND THE CREATOR OF THE COOPERATIVE TRUST

“

My young peers are also attracted to credit union history, where we sprang from the grassroots up to fill a human need and spread like wildfire. It was a time when credit unions were messy and beautiful because they were stitched together by communities with a voracious appetite for solving problems and improving lives.”

BRENT DIXON, YOUNG ADULT RESEARCH ADVISOR AT THE FILENE RESEARCH INSTITUTE

AND THE CREATOR OF THE COOPERATIVE TRUST

“

BRENT DIXON, YOUNG ADULT RESEARCH ADVISOR AT THE FILENE RESEARCH INSTITUTE

AND THE CREATOR OF THE COOPERATIVE TRUST

But the reality is, many credit unions today have lost sight of that purpose, suffer from the myopia of immediate stressors, the fear of change, and can’t shake loose from the inertia of what has been. I can’t tell you how many credit union employees I’ve heard say, ‘I love credit unions, but I can’t stand my credit union.’”“

BRENT DIXON, YOUNG ADULT RESEARCH ADVISOR AT THE FILENE RESEARCH INSTITUTE

AND THE CREATOR OF THE COOPERATIVE TRUST

If someone has a passion for helping people, for impacting their community, for building something true from the grassroots up, but spends every day in an organization that chokes that passion out (or simply ignores it), they’re going to move on to an opportunity to do that elsewhere. That next opportunity might be in credit unions, or it might not. You can only say, ‘let me in, I want to come in, please let me in’ so many times before you need to move on to the next door.”“

“We want to make positive changes that

will push our industry”

Title here

In an industry that is already old-fashioned in many ways, smothering our voice becomes a de-motivator. I think that’s what causes people to leave it altogether. I believe in the possibilities of what we can be, and that’s why I’m committed to the movement.”

RONALDO HARDY, CEO AT $400 MILLION LA CAPITOL FEDERAL CREDIT UNION, LOUISIANA

“

“I’m in for now, but frustrated!”

“There’s not muchroom at the top.”

A 40-SOMETHING VICE PRESIDENT FROM A $250 MILLION CREDIT UNION

I’m not a Gen Y credit union employee but I can provide a somewhat frustrated Gen X perspective on opportunities for career advancement within the industry. My peers are at the same stage—primarily middle management and some at an AVP or VP level. Credit unions are driving young talent out of the industry because the opportunity for upward advancement has been greatly diminished for three reasons...”

A 40-SOMETHING VICE PRESIDENT FROM A $250 MILLION CREDIT UNION

“

A 40-SOMETHING VICE PRESIDENT FROM A $250 MILLION CREDIT UNION

First, credit union executives are staying longer in their jobs because their retirement funds have been reduced and their financial security threatened given the market crash a few years ago. Almost half of our senior management team extended their retirement dates over the past three years. Many are now planning to work until 65 or even 70. If fewer VPs and SVPs retire, there’s less movement at both the management and senior management levels. This demotivates up-and-coming talented individuals.”

“

A 40-SOMETHING VICE PRESIDENT FROM A $250 MILLION CREDIT UNION

Second, credit unions have been forced to become far more lean which means fewer management and VP positions. Credit unions are reducing their full-time head count through attrition. The good news is that they are not conducting layoffs but the bad news is if a VP manager does leave, the duties are simply reassigned within the organization. Senior teams are far more conservative given the current financial pressures on a credit union’s bottom line and, as a result, are much less willing to take a chance on an unproven manager or VP.”

“

A 40-SOMETHING VICE PRESIDENT FROM A $250 MILLION CREDIT UNION

This is further compounded by high unemployment rates providing a large pool of talented and highly experienced individuals to choose from. Positions are being awarded to an out-of-work banker with 30 years experience instead of an up-and-coming talented credit union employee. And third, more and more credit unions are merging. This, once again, reduces management and senior management opportunities. These credit unions will have twice the number of people needed in these positions and will spend the next five years reducing these management and senior management teams.”

“

“The saddest thing about the credit union system right

now is it’s inability to articulate a vision.”

There remains a strain of idealism in the credit union system, and idealism is a young person’s game (for the most part). Sometimes credit unions consciously encourage this idealism, but more often it’s implied or inferred and it’s too often bred from inferiority complexes. ‘We may be small, but we’re different!’ It’s natural to ask why you’re different, and it’s natural for young idealists to want to believe that those differences matter.”

A YOUNG CANADIAN CREDIT UNION PROFESSIONAL IN HIS 30S

“

A YOUNG CANADIAN CREDIT UNION PROFESSIONAL IN HIS 30S

It is the responsibility of senior credit union leaders to create a sense of mission or vision that can feed and sustain the idealism. In Canada, this idealism has essentially evaporated. Our credit unions operate profitably and professionally, but our operations are bland and undifferentiated as we navigate the unclear cultural relevance of being a credit union.”

“

It’s not all doom and gloom

“I’m in for life!”

MATT VANCE, MARKETING/COMMUNITY MANAGER AT $139 MILLION INDUSTRIAL

CREDIT UNION, WASHINGTON

I have a voice and I see myself as part of the solution. My credit union was the first to give me a shot right out of college. I was handed the keys to a marketing department at the age of 24. I’ve had an amazing opportunity to learn, try new things and fail and grow over the past five years.”“

DEVIN SELTE, CORPORATE TRAINER, LEADERSHIP DEVELOPMENT AND CHANGE

LEADERSHIP AT $10 BILLION SERVUS CREDIT UNION, ALBERTA, CANADA

Over my past 12 years with the same credit union, I believe my career has had three phases: employed, acceleration and purpose. The employed phase lasted probably the first two or three years of employment (20 to 22 years of age). At that time, I would say that my position was just a job, with a steady pay check, rather than a career.”“

DEVIN SELTE, CORPORATE TRAINER, LEADERSHIP DEVELOPMENT AND CHANGE

LEADERSHIP AT $10 BILLION SERVUS CREDIT UNION, ALBERTA, CANADA

The acceleration phase started when I figured out I was pretty good at what I was doing. Over those five to six years (23 to 28), I found my niche, and wanted more, and I wanted it as fast as possible. I was lucky enough to quickly accelerate into roles with greater responsibility by being in the right place at the right time. If I didn’t accelerate through my position and had to wait for opportunities, I would have become impatient and frustrated, and I don’t know if I would have remained. Money was very important at this time as during this phase I was married, bought our first home and had our first child.”“

DEVIN SELTE, CORPORATE TRAINER, LEADERSHIP DEVELOPMENT AND CHANGE

LEADERSHIP AT $10 BILLION SERVUS CREDIT UNION, ALBERTA, CANADA

My current phase, and hopefully a phase that will last the longest of my career, is the purpose phase. I have been allowed to bring some of my own innovation to the credit union and run with it. This, added with my current role, has provided me with a greater purpose and it has made all the difference. It has allowed me to be more engaged, more committed and wanting to do more for my credit union, along with providing me with the motivation to do a better job in my current role. By being provided with these types of additional opportunities and responsibilities, I do believe I will be a lifer.”“

“My personal values are so aligned with

the mission”

WILLIAM AZAROFF, DIRECTOR, BUSINESS & COMMUNITY DEVELOPMENT AT

VANCITY, $18 BILLION, BRITISH COLUMBIA, CANADA

I don’t think age or size of organization has anything to do with it. I think the fact that my personal values are so aligned with the mission of Vancity is instrumental and perhaps completely unique. For me, that is the critical ingredient.”“

KELSEY BALCAITIS, COMMUNITY EDUCATION SPECIALIST AT $763 MILLION A+ FEDERAL

CREDIT UNION, AUSTIN, TEXAS

When I started, I was a teller and it was just a way to earn money for college. But it was through that job that I was first exposed to the credit union philosophy. Did it really sink in and make me a credit union lifer? Nope. But it did open the door to becoming one. It wasn’t until I started my internships with CUNA and Filene that I really started to see what credit unions were doing and what the industry was all about.”“

TINA K. HALL, PRESIDENT & CHIEF CATALYST, KIRSI CONSULTANCY,

SEATTLE, WASHINGTON

I think people are yearning for something more. What keeps them in credit unions is the philosophical alignment with the ‘betterment’ concept. We can push the boundaries and get more creative in how we translate that concept to the employee.”“

It’s not about the money‣ A credit union that believes in innovation and

free thinking

‣ A superior who they respect

‣ A belief that they are part of something bigger than just their own credit union

‣ Continued educational opportunities

More success ingredients‣ A personal passion and purpose that aligns

with credit unions

‣ Room to try new things

‣ Opportunities for growth

‣ An obvious path for advancement

‣ Young credit union professionals appear to thrive at larger credit unions

Lunch time!

A.M. 1. Gen Y and Z2. Young adult staff

P.M. 3. What young adults need4. Young & Free update

What do young peoplewant and need?

3

Chris and his friends tell us everything we need to know...

I need a bank that tries to understand.”“

‣ Explain the credit union difference

‣ Listen and show compassion

‣ Use straightforward language

‣ Offer tailored products and services

‣ Deliver plain-English financial education

‣ Provide do-it-yourself accessibility

Show you understand

69of consumers ages 18 to 24 are “not at all familiar” with credit unions

%

SOURCE: CREDIT UNION NATIONAL ASSOCIATION’S (CUNA) 2011-2012 SURVEY OF POTENTIAL MEMBERS

5of Gen Y will consider a credit union the next time they need a financial product

%

RON SHEVLIN, AITE GROUP ANALYST

SOURCE: AITE GROUP ENGAGING GEN Y: CULTIVATING A NEW GENERATION OF BANKING CUSTOMERS

Free debit card for the ATM.”“

‣ Offer free access to:

‣ Online banking

‣ Online bill-pay

‣ E-statements

‣ Offer relevant debit rewards

Transaction products are very sticky

15Your first credit card lasts

YEARSON AVERAGE

Average credit card debt for a college senior2,846$

‣ Start with low introductory rate that rises steadily and predictably

‣ Allow three over-the-limit or late-payment fees per year

Characteristics of a responsible card

‣ Link to a savings or investment account and offer “overpay” option or cash back to savings automatically

‣ Share credit scores with your members regularly

Characteristics of a responsible card

Customization

First was the traditional

flame job, which I used to modify this

lame-ass card.

Swimming in debt from student loans.”“

$20,000

In the past decade, average student

debt levels rose by over $10,000

$9,250

By 2004, people under 25 were

the fastest growing group in

BANKRUPTCY DECLARATIONS

Student loans program‣ Huge opportunity: A generation of well-

educated and disenfranchised young adults who need help

‣ Concentrate on consolidation

‣ Offer a lower-than-standard rate

‣ Communicate the benefits of one bill instead of many

I just bought a new car that I can’t afford.”“

First car loan‣ Great opportunity to start

long-term relationship

‣ In addition to credit score, evaluate on character, capacity and collateral

‣ Bundle with checking account and require automatic payroll deposit

A credit union is where you need to be.”“

14% 4%

8%22%

35–54

16%

30%

55+

Consumer Trust by Age

Younger consumers trust banks while older consumers trust credit unions most

“How much do you trust the following entities with your money?”

% calculation: Top 3 box responses (“trustworthy”) less bottom 3 box responses (“not trustworthy”)

18–34

BANK CREDIT UNION

SOURCE: MCKINSEY FINANCIAL INSTITUTIONS CONSUMER INSIGHTS SURVEY, 2009

Education and technology are key‣ Don’t assume young adults know or care

about your credit union

‣ Build trust over time

‣ Stress accessibility (shared branching and ATMs)

‣ Keep up to or ahead of your competitors’ technology

63 of the population is comfortable with making payments on their smart phone as soon as the service becomes available

%

SOURCE: MASTERCARD

Checking my account at 2 a.m.”“

‣Modern online banking system

‣Mobile website

‣ iPhone and Android banking apps

‣ Personal financial management tools

‣ Remote deposit capture

Self-service is the new service with a smile

Be aware of new competitors

ONLINE BANKSare your real future competition

86 of online bank customers said customer service is the reason they would not switch

%

ROB RUBIN, FACILITAS

SOURCE: YOUNG ADULTS EVOLVING FINANCIAL PREFERENCES, FILENE RESEARCH INSTITUTE

simple.com

moven.com

“The people you see here are outspoken fans of Virtual Wallet – that's how we

found them. To thank them for spending a day talking to us about life with Virtual Wallet, PNC offered them each a gift.”

AND OF COURSE...

And finally, don’t forget what makes credit unions special

I need a place where I won’t be ignored.”“

Young & Free update

4

What are the business lessons?2What can you apply to your situation?3

What are the marketing lessons?1

THE SPARK

COMMON WEALTH CREDIT UNION, ALBERTA, CANADA

We would like to hear how Currency can help usown the young market

in Northern Alberta!” “

GREAT PRODUCT

OFFER

DIFFERENT & BUZZ WORTHY

ONLINE &SOCIAL MEDIA

REAL, NOT SCRIPTED

AUDIENCEINVOLVEMENT

LONG-TERMAPPROACH

INTEGRATED SOCIAL MEDIA

MARKETING

SOCIAL MEDIA

WORD OF MOUTH

CONTENT MARKETING

GUERILLA MARKETING

DESIGN

PRODUCT DEVELOPMENT

TRADITIONAL MEDIA EVENT MARKETING

NICHE MARKETING

DIRECT MARKETING

SOCIAL NETWORKING

USER-GENERATED CONTENT

MICRO BLOGGING

BLOGGING

ONLINE VIDEO

CONTESTING

FINANCIAL LITERACY

BRANDED CONTENT

PUBLIC RELATIONS

Social in 2006

Solid strategy2Compelling story3

Dedicated resources4

Relevant products and services1

The Pitch

Hire a young spokesperson through a public search. His or her job will be

to attract and educate new young adult credit union members by offering useful information and promoting relevant products and services in person and online.”

“T H E P I T C H

Strategy capitalizes on three simple truths

People relateto people

Anyone can be a star

Social media is popular

• 25-and-under crowd• High school to college• College to the real world• Major purchases (cars, houses)• Dating and marriage• Having first children

YOUNG =T H E P I T C H

• Free checking account• No hidden fees• A head start• Listened to and understood• Free to learn• Free to make mistakes

FREE =T H E P I T C H

Sub-brand“Powered by”

approach

We think you should give an

unscripted and uncensored young person control of your brand!”

“M A R K E T I N G S P E A K T R A N S L A T I O N

I’m hornier than a house cat about this idea.”

JEFF MULLIGAN, CEO

“

PROVING THE CONCEPT

Launched September

2007

A GREAT GROUP OF

APPLICANTS

GREAT WORD-OF-MOUTH

& PUBLICITY

SOLID INITIAL MEMBER GROWTH

& RESULTS

Q. What’s wrong with this video?A. It’s brilliant. And that is what makes it so horribly wrong.How is it, that in the 100 or so years that credit unions have existed, no CU executive, no ad agency creative genius, no anybody for that matter, has been able to articulate the difference between CUs and banks as well, as artistically, and as entertainingly as the 19-year old Canadian that did this video?Every CU marketer in North America should be looking at this video and yelling at their agency ‘Find me a Larissa!’”

RON SHEVLIN SENIOR RESEARCH ANALYSTAITE GROUP

“

Credit Union Central of Canada• National CU Innovation Award

CUES Golden Mirror Awards• 1st place coordinated campaigns• 1st place segmented campaigns• 1st place for PR

CUNA Diamond Awards• 1st place for PR

Forrester Research Groundswell Awards• 1st place in the talking category

MAC Network Awards• Gold Award for market segment program• Gold Award for PR• Gold Award for websites• Best of Show MACQUEE

MAC Marketing Now Awards• Winner video• Winner blog• Winner podcast• Winner social media engagement• Winner social media personality

MACU AIME Awards• Gold AIME new product launch• Silver AIME coordinated campaigns• Silver AIME radio• Silver AIME websites• People's Choice Award

A W A R D S

You deserved to win.You did a great job and just as important, actually delivered business value with your application. The big companies did too, but your application was more impressive based on the creativity and the results delivered on a limited budget.”

“JOSH BERNOFFSENIOR RESEARCH ANALYSTCO-AUTHOR OF GROUNDSWELL FORRESTER RESEARCH

CRUCIAL CONVERSATION

This is really working in Alberta. How do you feel about Currency offering Young & Free to other credit unions?”

“

JEFF MULLIGAN, CEO

You have to do this!”“

YoungFreeAlabama.comYoungFreeAlberta.comYoungFreeAlaska.comYoungFreeArizona.comYoungFreeArkansas.comYoungFreeBritishColumbia.comYoungFreeCalifornia.comYoungFreeColorado.comYoungFreeConnecticut.comYoungFreeDelaware.comYoungFreeFlorida.comYoungFreeGeorgia.comYoungFreeHawaii.comYoungFreeIdaho.comYoungFreeIllinois.comYoungFreeIndiana.comYoungFreeIowa.comYoungFreeKansas.comYoungFreeKentucky.comYoungFreeLouisiana.com

YoungFreeMaine.comYoungFreeMaryland.comYoungFreeMassachusetts.comYoungFreeMichigan.comYoungFreeMinnesota.comYoungFreeMississippi.comYoungFreeMissouri.comYoungFreeManitoba.comYoungFreeMontana.comYoungFreeNebraska.comYoungFreeNevada.comYoungFreeNewBrunswick.comYoungFreeNewfoundland.comYoungFreeNewHampshire.comYoungFreeNewJersey.comYoungFreeNewMexico.comYoungFreeNewYork.comYoungFreeNorthCarolina.comYoungFreeNorthDakota.comYoungFreeNovaScotia.com

YoungFreeOhio.comYoungFreeOklahoma.comYoungFreeOntario.comYoungFreeOregon.comYoungFreePennsylvania.comYoungFreePrinceEdwardIsland.comYoungFreeQuebec.comYoungFreeRhode Island.comYoungFreeSaskatchewan.comYoungFreeSouth Carolina.comYoungFreeSouth Dakota.comYoungFreeTennessee.comYoungFreeTexas.comYoungFreeUtah.comYoungFreeVermont.comYoungFreeVirginia.comYoungFreeWashington.comYoungFreeWestVirginia.comYoungFreeWisconsin.comYoungFreeWyoming.com

D O M A I N B U Y I N G S P R E E

YoungFreeAlberta.com

RIDING THE WAVE

2006 2007 2009 20102008 2011 2013

Growth

Find me a Larissa!”RON SHEVLIN

SENIOR RESEARCH ANALYSTAITE GROUP

“

29 and counting!

UNIVERSAL PRINCIPLES

Make a big deal out of everything

29 surprise events to date

Don’t stand still

2008

2011

2013

Fill the calendar

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MFCU2011 MFCU2011 - Web Banner TNL Coop.indd 10-4-2011 11:14 AM Kevin Castillo / Kevin Castillo

CURRENCY MARKETING

IMPORTANT: This art has been checked and proofed for accuracy. It is the responsibility of the client to make all final approvals before the release of this art. Please double check for accuracy.

R Size R Copy R Colours R Photography

Initials Date

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PROOF 1Account Executive: Kate Davies

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PARTNERSHIPS

MEDIAOPPORTUNITIES

Keep doing new things

248 APPLICANTS

Inspire people to creatively spread the word

Make yourself the center of the local universe

Be ever present on and offline

Don’t dismiss traditional media

#1 Friend

#3 Facebook

#2 Radio

Where did you learn about this opportunity?

Spend as much time in the community as you do online

Deliver on the promise of financial literacy

Collaborate

Does it work?

YOUNG & FREE DRIVES LOYALTY, LOWERS AVERAGE AGE AND

GROWS WALLET SHARE

100of all survey respondents indicated

that they would recommend the Young & Free Program to a friend

SOURCE: SERVUS CREDIT UNION

%

59 TO 53In Alabama, Listerhill Credit Union lowered

their average age by six years after running the Young & Free Program for three years

SOURCE: LISTERHILL CREDIT UNION

47 TO 45The participating credit unions in Maine lowered their average age by two years after running the

Young & Free Program for just one year

SOURCE: MAINE CREDIT UNION LEAGUE

The fastest growing age segment at Servus Credit Union in Alberta is the 17-to-25 age group

SOURCE: SERVUS CREDIT UNION

7 VS 47% of Young & Free members have a

loan compared with 4% of those without a Young & Free Account

SOURCE: SERVUS CREDIT UNION AFTER FIVE YEARS

% %

2.6 VS 1.6Young & Free members tend to have more products with the credit union

SOURCE: SERVUS CREDIT UNION AFTER FIVE YEARS

26Vantage Credit Union in St. Louis has loan

penetration of 26% of its 6,702 Young & Free members totaling $5.8 million

SOURCE: VANTAGE CREDIT UNION

%

16of Young & Free members at the participating

credit unions in Maine have a loan, with an average balance of $6,574

SOURCE: VANTAGE CREDIT UNION

%

3.5 VS 2.7Young & Free members who are now “grown up” have more products than those who never had

the Young & Free Account

SOURCE: SERVUS CREDIT UNION AFTER FIVE YEARS

Average revenue per yearYoung & Free member

SOURCE: SERVUS CREDIT UNION, JULY 2012

115$

Average revenue per yeargraduated Young & Free member

423$

There are now over

100,000 young adults with products

and services associated with Young & Free

Our even bigger idea

We want to helpcredit unions attract

1,000,000 new young adult members

Summary

Recruit and engage young employees2Offer relevant products and services3

Integrate your marketing4

Understand Gen Y and Gen Z1

currencymarketing.ca/think

youngfreehq.com

Thanks!Tim McAlpinePRESIDENT & CREATIVE DIRECTOR

CURRENCY MARKETING