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Posted: Nov 9, 2017
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A recent CNN Money article, Millennials Aren’t Opening Credit Cards. That’s a Mistake, caught my eye.   While the article does talk about the benefits for Millennials to open a credit card such as building a credit score, earning rewards, and fraud protection, it also mentions that the Card Act made it harder for Millennials to open credit cards.  The Card Act didn’t make it harder for Millennials (or other generations) to open credit cards, issuers did by their interpretation of the Card Act requirement of “proof of ability to pay”. 

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Posted: Oct 26, 2017
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5 Tips for Building Brand Recognition

(Editor’s Note: This article was previously published on CU Insight)

Back in the day, the standard to having the ultimate brand recognition was making your brand a “household name” meaning it would become a staple or necessity in homes, such as Kleenex and Band-Aids. Today, the standard is making it a verb, that is your brand becomes the word that names the action that is being taken. We no longer ask did you research it, we ask did you “Google” it. And in the payments space, we have observed the PayPal owned Venmo, the peer-to-peer (P2P) payment option of choice for many millennials, achieve this status in a relatively short period of time. We now say “Venmo” me the money.

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Posted: Sep 28, 2017
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Is your credit union prepared to capitalize on increases in member spending?

Back to School is over, Fall and pumpkin spice are in the air, and your members are already thinking about holiday purchases, and it’s only the end of September.  If you have a co-worker who has marked the employee break room calendar with a countdown of the number of paychecks left before the holidays, now is the time for your credit union to create holiday credit and debit usage campaigns to compete for transactions, and capture the projected increase in holiday spending this year.
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Posted: Aug 31, 2017
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Author: Alexis Nab

A perspective from someone in your target market

Editor's Note: This article was previously published on CUInsight.com and has been modified.

I have a confession to make - I am a millennial. But I’ll let you in on a secret, I’m not that millennial. The one you read about in online articles. See, despite the fact that I love my ridiculously priced Starbucks drinks or know the whereabouts of my phone 99% of the time, who you are reading about in these articles, isn’t my identity - I’m more than just a buzzword.

 

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Posted: Aug 2, 2017
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Author: Lou Grilli

It could happen.

There’s been lots of hype claiming that Zelle, the recently launched P2P service by several major banks and credit unions, is the “Venmo killer”, alluding to the fact that financial institutions are staving off the onslaught of tech companies looking to make inroads into the banking industry.

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