DESCRIPTION

MarketSolutions has begun preliminary work to develop a Youth Strategy for Saskatchewan credit unions. A credit union advisory committee will provide support in setting direction and establishing objectives. The initial concept is to develop an integrated approach and long-term direction for Saskatchewan credit unions with regard to the youth market.

TARGET AUDIENCE

Youth (0 to 25 years of age)

  • The strategy will seek to attract youth to the Saskatchewan credit union system as members, volunteers and employees through a viable, comprehensive suite of core products, services, and programs; valuable volunteer opportunities; and desirable work environments.

FEATURES

The proposed strategy will outline a framework promoting a system-wide approach to youth by providing:

  • age group profiles and preferences
  • research into products, services and programs, volunteerism; and career pathing and mentoring
    • identification of best practices
    • identification of gaps
    • recommendations for a suite of core products, services and programs
  • identification of opportunities and recommendations for partnerships
  • identification of opportunities and recommendations for system affiliate involvement

KEY BENEFITS

A Youth Strategy undertaken by the Saskatchewan credit union system will:

  • Provide a framework for the development of common support material and tools for youth-orientated products and services.
  • Enable credit unions to meet young members’ needs for financial products and services, through their own products and services and through partnerships with other providers.
  • Create cost efficiencies for credit unions through system-wide marketing, training and support.
  • Strengthen the credit union brand and image.
  • Build strong relationships with this segment of the membership, enabling credit unions to replace current borrowers with new borrowers and to retain the savings of older members as they pass inheritances on to their children and grandchildren.
  • Facilitate retention of young members when they move away to further their education or to pursue employment opportunities.
  • Assist in the development of a strong talent pool.
  • Provide fresh ideas and perspectives on issues and priorities for credit union management and boards.