Understanding Gen Y: It's More than Just Delivery Channels & Social Media
Jim Kasch, Darden Employees FCU
Many credit unions need to attract and serve a younger membership demographic. Unfortunately, many of these same credit unions believe that providing some electronic delivery methods and having a Facebook page will accomplish this. To truly succeed in serving this growing consumer base, product development, pricing, communications, education, service delivery, and more must be evaluated and improved. In this session, I cover the major areas requiring attention, supported by results achieved at Darden, where 90% of potential members are younger than 45 years old.
About Jim Kasch
Jim has more than twenty years business experience, most of which with credit unions. His roles range from teller to CEO. He spent more than ten years with Partners Federal Credit Union (formerly Vista FCU) which serves The Walt Disney Company, where he led marketing, business development, sales, and strategic alliances.
In 2010, Jim was hired to be the Chief Executive Officer for Darden Employees Federal Credit Union (DCU), chartered to serve the more than 200,000 employees of Darden Restaurants, Inc. In six months, he and his team built a primarily virtual delivery credit union offering a full suite of products and services. Since its launch, DCU has more than tripled its asset base, grown 6 times in loan balances, quadrupled income, and grown seven times in members served.
DCU’s unique business model extends to its robust relationship with its sponsor which positions the credit union as a business partner rather than only a service or benefit to employees. Nearly 90% of Darden employees are Gen X or Gen Y, making DCU’s field of membership one of the youngest and largest in the country.