Our MemberView research reveals that Millennials are more likely than older members to anticipate that financial service interactions will be complicated. Whether it’s getting a loan or joining the credit union, Millennials foresee pain points along the way. However, they’re just as likely as older members to rate credit union processes as easy–once they experience them.
Maybe it’s their relative lack of experience with financial services that drives their skepticism. Or perhaps it’s the fact that they’ve always navigated a more complex world. In any case, credit unions have a tremendous opportunity to gain Millennials’ interest by branding their credit unions with their own version of the Staples “Easy” button. Of course you’ll have to ensure your processes are consistently easy for members first.
Our recommendation? Check your Member Effort score along the member journey. If the path is clear, own the “Easy” position in your market.