>A Little Different from the Rest

This entry was posted by Friday, 29 September, 2006
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“Tell me and I’ll forget. Show me and I’ll remember. Involve me and I’ll understand.”
- Confucius

I think this quote sums up our prevailing thoughts behind the YES Summit: Serving 18-to-30s. To really offer something of benefit to those who attend, we did not want to simply parade a bunch of speakers in front of an audience and call it a conference (which is why we call it a Summit).

There is certainly a time and place for an event structured in that manner, however December 6-8, 2006 in San Diego is neither that time, nor that place. It’s time to offer attendees a chance to listen, but also a chance to collaborate, collect ideas, and develop a blueprint. In fact, that is what we are calling a very important piece of our conference materials… the YES Summit Blueprint.

It’s also the time and place to elevate the discussion on the young adult demographic beyond why credit unions need to pay attention to this group. An excellent discussion on the importance of 18-to-30s to the future of the Movement has already occurred on many fronts. While we may refresh your memory on a few key points, we are assuming that attendees are aware of the importance of addressing young adults. Now is the time to focus on serving their needs… what new products can be offered, what services can be extended, how are credit unions successfully addressing young adults in their fields of membership?

Our vision for the Summit is to provide information that stimulates new ideas, services, and programs among credit unions that want to better serve the 18-to-30 demographic. I’m excited to say that we are well on our way to achieving this.

What do you think? Are credit unions ready to address the young adult demographic in this manner? Should there be an emphasis on marketing? Is this Summit only a pipe dream, and will those who attend really participate in a way to formulate ideas for their own programs?

5 Responses to “>A Little Different from the Rest”

  1. Trey Reeme

    >Josh,

    It is indeed a different conference in nature – partly because you’re building it on open source ideas, letting your users define the Summit themselves. Most conferences consider input (usually from last year’s “fill this out after the session” critiques), but as a new conference, you don’t have that luxury. Nice to see you asking beforehand!

    Are credit unions ready to address young adults? It’s a necessity. It’s now or never – both on a national and individual CU level. And there isn’t a set of best practices in CU marketing that I’ve seen that I agree with. I believe the conference needs to focus on reaching (marketing to, conversing with) the demographic, and coming up with a consensus of best practices in marketing to Gen Y would be a major help.

    For example, reaching this demographic with old media, email blasts, and direct mail is impossible. Produce a bad TV or radio spot and you get ignored or lampooned. But a lot of CUs are being told old media is the way to go. Few marketers are talking about transparency and conversation, about social media and creating connections; that the type of discussion that YES Summit needs, IMHO.

  2. Christopher Morris

    >I’d agree with Trey.
    Most CUs are being told old media is the way to go and heck, if they don’t have a Gen Y member on their board or on staff (besides support staff), how do they know?

    The YES Summit is a great outlet to start talking about outreach and marketing. Embrace new technology – Do a great spot and put it on You Tube. Don’t patronize, but be creative. Be real.

    Some interesting stats:
    “Internet use by 18 to 29 year-olds ranges from 82 percent to 85 percent, according to the Pew Internet Project.” – I would make an educated guess that the only reason the other 15-18 percent aren’t online is because they are low-income.

    And do you offer online bill pay? -
    “According to Synergistics Research, 70 percent of people ages 18 to 34 paid their bills online in 2005. Forrester Research predicts online bill payments by Gen Y consumers will soar 219 percent by 2010, to 18.2 million households.”

    - stats are from here.

  3. Christopher Morris

    >In case you missed this in today’s News Now:

    Under the headline, Seven new innovations unveiled by Filene’s i3, one of the interesting ideas is relevant to our discussion – iNFORM Young Adult Members. Credit unions are not capturing a “fair share” of the young adult market between the ages of 20 and 30. With iNFORM, a long-term relationship and retention service designed to deliver short and engaging financial management messages through podcasting, credit unions can better address the needs of this young market and build membership.


    Like the radio shows being done, but updated for a new generation. Very cool.

  4. Robbie Wright

    >Josh–

    I think that one of the most important things for attendees to take from the Summit would be a plan on implementation. Any attendee should already know some of the terms being thrown around there and they might understand it, but they need to get the message of HOW to use a blog to communicate. Most should be able to see that GEN Y likes being communicated with in the “e-channel” but how do CU’s do it without the mass email?

    If you can get the message across of just not the ideas, but the implementation plan too, then we might start getting somewhere!

  5. terrell

    >I think we’ve all read the stats and the Filene books on why this generation is so important to reach, so I would agree that implementation is really at the top of my mind. And also…how to reach this generation without alienating our other demographics, especially baby boomers.


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