You can't open up a trade publication or attend a credit unionconference these days without hearing about Gen Y. These are themembers who need loans and are key to our credit unions' survival.How can credit unions start reaching out to this generation, andwhere can they start?

First, learn how they think. The same tactics and language thathas worked over the years is outmoded. If you feel so removed fromGen Y you don't know where to start, create an advisory group ofyoung adults to inform you. Ask them questions. Learn theirmotivations and behaviors. Credit unions can play the part ofservice provider and mentor. You'll create savvier, more gratefulfuture members.

Young adults crave instant access to information and the abilityto share and compare experiences with friends. For many of themGoogle, Amazon, and Wikipedia have always been there. This is greatif your products are relevant and differentiated. The opportunitiesfor young adults to share and promote a product they like arelimitless. But that will only happen if there's a compelling reasonto share. And at the same time, that same access to information andrecommendations make for a very mobile group of consumers that arelikely to switch providers quickly if they're not satisfied.Technology is a double-edged sword: a big help to your business ifyou're keeping up with it and a deal breaker if you aren't.

Young adults experience many firsts–first cars, first job, firstyear of college and first home to name a few. These firsts createseveral unique needs credit unions are well-positioned to fill.Many young adults need clear and meaningful advice and guidancejust as much as they need that first loan. The youngest of themwill have no credit whatsoever, so using a smart mix of productsand education to help them build credit and knowledge is atremendous opportunity for credit unions.

The path to young adult and teen members starts with theirparents. Build relationships with high school students before theyhead off for college through a low-limit first credit card product,student branching, or reality fairs. By establishing theserelationships early on, your credit union well be well-positionedto offer loans to younger members, and those members will bewell-positioned to make smart financial decisions. 

MollyWhitfield is a member service representative/loan officer atConsumers Credit Union in Kalamazoo, Mich.

The Crash Network is a grassroots organization of more than100 young credit union professionals. Its activities includemeetings, mentorships online collaboration and developmentprojects. Opinions expressed are the personal views of theauthor.