Published by McKinsey and Company – June 17, 2024

Credit union members are aging, and young people tend to see these institutions less favorably than their elders do. Here are six strategies for bringing in younger members to weather the years ahead.

• Point to credit unions’ history of commitment to social impact, a principle that appeals to many Gen Zers and millennials.
• Meet younger consumers where they are—namely, digital channels.
• Invest in digital banking and personalization.
• Upgrade technology to enable digital strategies.
• Use AI to improve the member experience.
• Future-proof the business model through M&A and partnerships.