More than 70% of millennials don’t know the benefits (and savings) of belonging to a credit union.
Recently, CUNA Advocacy created a YouTube video interviewing a group of young adults. The interviewers wanted to see what young consumers knew about their options regarding financial institutions. The results were surprising. Nearly three in four surveyed had no idea what a credit union was! They weren’t aware that credit unions offer a local, member-owned, not-for-profit alternative.
Knowledge gap: Seeking out trusted financial partners
Because very few Millennials (and their younger cohort, the Builders) receive any form of financial education, they’re eager to find reliable, community-based, transparent financial partners as they begin to establish their adult lives. Doesn’t that sound just like a credit union? As a result of this knowledge gap, a lot of young consumers lose out by turning instead to more expensive (and less consumer-friendly) national banks and finance companies.
Did you know that the average Mid Oregon member saves $88 a year in lower fees and better interest rates* over other types of financial institutions? Why not share that benefit with others who could really benefit? That’s why we credit union members have the chance to help build a stronger cooperative—while helping the young adults in our lives have a better financial outlook.
Tell A Friend, Get a Gift!
Tell a young person you know about the benefits that await them at Mid Oregon Credit Union. If he or she joins, and opens a Simply Free Checking account, we’ll pay them up to $10 for their unused checks and debit cards from their previous institution. And we’ll reward you with a $10 gift card! Just visit https://refer.midoregon.com/ to get started. There’s no limit to how many people you can refer—friends, family, co-workers!
* From 2016 Credit Union Impacts by ECONorthwest, an independent analysis of the gross economic impacts of credit unions in Oregon and Washington.