Act now: Your future member base is shopping for service
Member acquisition has become a whole new ballgame. America’s largest generation — the Millennials — is just starting to engage in financial services. A quarter of those under age 30 are in the market for their first checking account.1 Clearly, the opportunity is huge. But so are the challenges.
Younger consumers tend to have scant credit history, making it harder to identify good candidates. Additionally, research suggests that Millennials don’t understand what credit unions do; only 30% believe they’re eligible for membership.1 So they probably won’t be seeking you out. Finally, credit unions offer fewer of the digital “bells and whistles” that for-profit banks provide. So you have to offer something different: empathy about their unique situation and aspirations.
LexisNexis offers solutions that help you more accurately target ideal candidates within this massive goldmine. Our exceptionally broad, deep data sets go beyond conventional credit reports to help you win over Millennials with:
- Ability to tailor products, services and fees for a price-sensitive group that's often hampered by low income and high student loan debt
- Better insight for customizing messages that speak to their aspirations
Partner with LexisNexis to generate the precise information needed to onboard your next generation of members.
1Filene Research Institute, "What Millennials Want: The Future of Millennials in the Credit Union System," August 2015
- FICO® Score XD
- Generate a FICO score for unscorable credit applicants
- Lead Integrity Attributes
- Avoid marketing to high fraud and institutional risk identities
- PowerView Score™
- Score more consumers using a one-stop solution for auto lenders
- Profile Booster
- Enhances marketing efficiency and lift with better prospect identification
- RiskView™
- Assess consumer creditworthiness and risk potential
- RiskView™ Liens & Judgments Report
- Retain your competitive edge without the added expense of recalibrating your models.
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