The Northwest Federal Credit Union created a committee of young employees and members to identify products and services that appeal to the 18-34 demographic.
HERNDON, Va., March 21, 2023 (GLOBE NEWSWIRE) — The Northwest Federal Credit Union’s new Discovery Group will help identify products and services that appeal to this demographic. Younger members can gain financial health with access to professional products and services guided by younger employees. Feedback from this group will be used as data to implement new strategies to attract younger members to the credit union.
Northwest Federal Credit Union understands the importance of building a solid financial wellness plan at a young age. online resourcesThanks to , young people can start building a better future without getting into debt. This is done by attracting younger demographics with competitive interest rates on loans and teaching them how to build a financial plan. All of this is designed to lead you to a strong financial future.
Working with this Discovery Group, the Northwest Federal found that a group of 18-34 year olds has little loyalty to financial institutions. Instead, we look for suboptimal deals and offers as an incentive to switch. Through online and face-to-face financial advice, Northwest Federal intends to show young members how they can begin their wealth-building financial journey and provide guidance every step of the way. As a member, you’ll get instant benefits like our pre-approval program, competitive loan rates, educational webinars, and more. All of which are designed to appeal to this young market.
The Northwest Federal has found that people who are just beginning their financial journey often do not have credit. This can be a problem when buying a car, renting an apartment, or buying a house. At Northwest, financial professionals can advise young members on how to reduce and manage their debt. Credit union professionals likewise guide young members on how to pay off student loans, buy and sell homes, and save for retirement.
Credit unions treat members as people by name, while other banks and financial institutions often treat members as numbers. They work individually with members to guide them on their path to financial health to achieve financial stability.
In response to this new data, the Northwest Federal advises young people that they don’t have to sacrifice their financial health to get what they need and want in life. said Jeff Margeson, senior vice president of retail at Northwest Federal. We want to show this generation how to make money work for them. ”
media contact
Real name: Maureen Cronin
Email: mcronin@nwfcu.org
