Discovering the financial needs of Gen Z
Gen Z is a generation that research shows has technology-powered values, and that can mean great opportunities for credit unions with the proper strategy in place to reach them effectively. The 3rd Annual Southeast Credit Union Innovation Day at Georgia Tech provided an opportunity to hear directly from high school, college, and graduate students about what they’re looking for in financial services.
Georgia's Own Credit Union SVP of Strategy & Governmental Affairs Brandee Bickle moderated a student panel to shape a conversation around strategic planning and member growth.
Panelists shared:
- The idea of member-based institutions is appealing, but as the graduate student said, “it’s not marketed enough;”
- The students use an average of three to 12 financial apps each, based more around function and needs than with a specific financial institution; and
- They had not visited a physical financial institution branch for years – ranging anywhere from two to 15 years.
Check out the recent America’s Credit Unions Blog entry focused on these students for additional thoughts from the panelists, and how credit unions can respond to their questions, concerns, and needs.