Fact: youth banking is the entry ramp into a credit union.
Fact 2: Credit unions, most of them, will admit that youth banking is not exactly their strongest suit.
Enter Cardinal Credit Union, a Mentor OH based institution with assets around $335 million, where CEO Chistine Blake saysthey are winning big in attracting youth to get credit union accounts by doing a lot of innovative thinking and mixing in fun activities.
Blake, by the way, is a past podcast guest. In episode 342 she talks about the institution’s relationship with the Cleveland Browns and its Little Brownies debit card aimed at kids. Since then she has turned to Nuuvia – formerly Incent – where president Marcel King and team have developed a range of youth banking tools and ideas. King, too, is a past guest. He was on episode 360 with Pioneer Federal Credit Union EVP Tracey Miller where they talked about youth banking.
On this episode King and Blake dive deeply into what Cardinal is offering, why kids like what they see, and why all of this matters in helping to insure a credit union’s long term success. In the process King shares compelling data on youth banking at Desert Financial, a big credit union in Phoenix AZ.
