What are younger generations looking for in a financial institution?

What are younger generations looking for in a financial institution?

We asked ChatGPT “What are younger generations looking for in a financial institution?” It gave us the following response:

• Technology and Digital Experience
• Low Fees and Transparency
• Convenience and Accessibility
• Social Responsibility and Ethics
• Personalized Services and Advice
• Innovative Financial Products
• Community Engagement and Brand Identity

So, then we’ve asked ourselves, as a Credit Union how do we measure up when it comes to what younger generations are looking for? Would we be a good choice for them?

✅ Technology and Digital Experience – We know the importance of digital banking and we want the best tools for our members. Providing online and mobile banking services is a requirement to survive in this industry and we continue to strive for improvement and to learn what’s coming next when it comes to technology & digital experience.

✅ Low Fees and Transparency – Who wouldn’t want to pay less for something you need to use every day? Credit Unions are known for our transparent and low fee structure. We’re not trying to make a buck off our members with sneaky nickel-and-diming. That’s why we’re not-for-profit!

✅ Convenience and Accessibility – We know that you’re busy, and we know the younger generations continue to get even busier by the day. That’s why we are proud to be a cooperative, working alongside other Credit Unions across the nation to provide convenience and accessibility at an affordable or FREE cost. At CSE we’re able to partner with other credit unions to offer access to 30,000+ fee-free ATM’s and over 5,000+ shared branching locations where members can do business.

✅ Social Responsibility and Ethics - Credit unions operate with a member-focused philosophy, prioritizing the financial well-being of members over profit. It’s our social responsibility to offer fair and responsible lending. We always strive to encourage our members to avoid predatory lending, such as payday lenders.

✅ Personalized Services and Advice – Have you ever heard the saying, ‘At a Credit Union you’re a member, not a number’ or that we may know many of our members by name? With our members, it’s personal – we want to know your backstory so we can dig a little deeper to see how we can help you financially succeed.

✅ Innovative Financial Products- It’s a competitive world when it comes to innovation and banking. Credit Unions do their best to provide products and services that the ‘big banks’ do.

✅ Community Engagement and Brand Identity - We want to help our community members make informed decisions about their money. That’s where our free educational resources, such as blog articles, webinars, or workshops, come in – to help them improve the financial well-being of all that we serve.

It is our mission to always provide products and services that prove we truly care about our community’s financial success. We want to be a partner that not only meets our members’ banking needs with affordability, time and time again but continues growing and learning so we can provide the best for our members when it comes to their dreams, goals, and financial needs.