Cover for the PYMNTS and PSCU June 2023 “Credit Union Tracker®: How CUs Can Help Younger Consumers in a Distressed Economy”

Gen Z is Only 4% of Credit Union Members, and That’s a Problem

How CUs Can Help Younger Consumers in a Distressed Economy

With just 4% of Gen Z being current CU members and nearly 80% turning to social media for financial advice, PSCU’s Scott Young explains that now is the time for credit unions to play the role of influencer in providing younger generations with much-needed financial advice and education. Read more in the “Credit Union Tracker®,” a collaboration with PSCU.

Inside the June Tracker

  • With younger generations having grown increasingly accustomed to digital experiences, an industry insider explains why credit unions should strive to meet this demographic’s needs.
  • The University of Hawaii Federal Credit Union partnered with a company to improve its financial literacy tools, while PSCU rolled out a product to help CUs offer BNPL.
  • Upward of 80% of financial account holders who self-identified as highly satisfied would be open to switching to another provider for more innovative products and services.

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