Some of the funniest commercials have aired during back-to-school season, like this one from Office Max (my favorite part is the lollipop switched for a magnifying glass).

But while many students roll their eyes at these commercials, others are scratching their heads wondering how the final set of CARD Act rules–which went into effect on August 22nd–will affect their credit accounts.

It’s my opinion that this is a perfect opportunity for credit unions to reach young adults and help them with financial education.  Why?

1. The CARD Act is arguably the most important financial change to impact this demographic.
2. Young adults WANT to learn how to better manage their money. According to a recent study by Sallie Mae, 84% of undergraduates said they needed more financial education.
3. Credit unions that use financial education to guide young adults through these confusing times will gain their loyalty in return.

It’s that second point that’s most interesting… the average undergraduate senior leaves college with $4,100 in credit card debt AND wishes they had known more about managing credit and their finances. That’s where credit unions can make an impact with this demographic; by providing the desired financial education using relevant communication channels.

This is the main reason I’m psyched about my role here at CUNA. I get to help credit unions provide valuable financial information to my demographic using relevant methods such as the Web and in-person seminars.

We all know using a credit card isn’t difficult. It’s HOW to use a credit card that gets tricky. And that’s what I wanted to convey to folks my age with the video I produced for our new Seminar In A Box aimed at those starting out in life.  (Credit 101: Do You Pass the Test will be released this fall.)

Jeremy was awesome, and very candid. I wanted him to tell his story and offer advice based on his experience with credit. Hearing that message and discussing the situation with peers goes a long way and I think it amplifies the rest of the information presented throughout the seminar.

Check out this shortened version of the video…

Jeremy shares more compelling stories in the longer version that’s sure to resonate with the intended audience… like the story about his roommate’s use of credit, his episode with collections, how his credit problems affected his college career, and some advice based on his experiences.

Now it’s your turn… am I off base? Do you think young adults are a lost cause for credit unions? Are there better ways to reach them and gain their loyalty? I have lots to say about this subject–too much for one post–so let’s keep this conversation going!

>Hello YES CU bloggers and YES Summit Enthusiasts! I am RecruiterGuy, and my goal is to help you attract and retain the 18-30 year old employees. Oh by the way, I am also one of those Old White Guys – OWG’s for you text folks!

We are going to have an interesting morning on Dec. 5th. An organization, any organization, is either growing or it is dying. It’s important to have the seasoning on your team; and it is also important to have the fresh new faces who don’t know what they can’t do – and their accomplishments will sometimes surprise everyone, including themselves.

In our hour together we will discuss two topics that I could speak hours on. So far my PowerPoint presentation is down to 125 slides so get your coffee early and often. You’ll need to listen fast.

And that is one of my points. This generation has grown up with instant gratification. Remember when you had to wait for the tubes in the TV to warm up before you saw the picture? No more. We had to play Monopoly for hours to determine a winner. With today’s video games, I am sometimes defeated before my seat gets warm. Technology comes easily to these candidates – and that’s where you can find them.

RecruiterGuy is Bill Humbert, Principal of The Humbert Group, LLC and VP/President-elect of the Iowa Senior Human Resource Association. Check out his Web site at http://www.recruiterguy.com/.

>The folks over at Filene are launching a new initiative called “30 Under 30.” It will bring together 30 credit union professionals under the age of 30 to develop solutions that help credit unions better serve the 18-to-24-year-old segment of young adults. If you’re interested in becoming involved, and/or want more details, check out their 30 Under 30 page.

Okay, so let me share my personal thoughts…

This is an awesome idea and long overdue. Why? Have you ever found yourself chatting with two other people, who are talking about you but not involving you in the conversation? It’s frustrating, isn’t it? You try to speak up and express your thoughts, but the other two don’t really listen and continue on.

Well, as a young adult dedicated to the Movement, I can tell you many of us feel as though we’re in the middle of that same situation. We’re the “C” in an “A” and “B” conversation. What’s best for our generation and credit unions is being discussed, but doesn’t actually involve those of us already in credit unions.

In the off chance we ARE asked to offer our thoughts, it rarely involves anything beyond, “hey what’s your opinion of this marketing campaign… is it ‘hip’ with the kids these days?”

Don’t get me wrong, getting young adults involved in those types of discussions is a good thing. However, we have more to offer the discussion on how credit unions can better attract and serve our generation then if an advertisement looks “cool”.

Right now, only a handful of us young adults are able to speak up about this issue and have someone listen. The 30 Under 30 initiative is a way for more young adults to have their voices heard. That’s important, because credit unions can’t base the future of credit unions on the opinions of other generations and 5 or so young adults… myself included.

If we, as a Movement, are going to successfully address the ageing of credit unions, we need the collective input of young adults within credit unions. And that’s where programs like the YES Summit and Filene’s 30 Under 30 initiative step in.

>I came across an article in the Ozaukee Press explaining how Kohler Credit Union may open a high school branch at Port Washington High School, located outside of Milwaukee, WI. It got me thinking… why don’t credit unions do the same thing on college campuses?

High school branches have been successful across the country. In fact, Kohler Credit Union has been operating a high school branch in a separate school for the past 2 years, according to the Ozaukee Press article. So, is it a giant leap of faith that a similar model would work for college campuses?

Credit unions that are 100% student operated have existed for a number of years and have run into a number of difficulties. As a result only a few remain today. But where campus credit unions have met difficulty, an established credit union will be able to deliver the resources and guidance needed for the student-run branch to remain effective on a college campus.

What about gaining access on campus? Tons of schools partner with banks for exclusive rights, so depending on the school, gaining access could be difficult. But the same benefits that have swayed high school officials would be compelling to college administrators.

Designed and promoted as an educational tool, a student-run branch at a university would provide students the opportunity to learn about money management and about credit unions. As part of a Co-Op/internship program, students who work at the credit union would be trained at other credit union branches, are paid, and can receive school credit for their efforts. This mirrors successful high school programs such as Kohler Credit Union’s program.

It seems like a great opportunity for all involved, so why don’t credit unions embrace this idea, as they have embraced high school branches?