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Articles by Steve Nikitas
Millennials need more than just a credit union
I’m going to say something that’s a little controversial. When it comes to capturing the millennial market as new account holders, perhaps financial institutions are doing it wrong. And perhaps we’ve been going about it the wrong way for quite some time. First, let’s take a look at the current state of millennial finances: In 2017, 46 percent of young millennials (aged 18-24) surveyed by GoBankingRates had no savings, up from 31 percent in the previous year.
4 Proven Ways to Accelerate New Account Openings
Sponsored content presented by Harland Clarke by Steve Nikitas Let’s face it … when it comes to help with managing money, there’s a lot of competition out there. Consumers have plenty of choices. They can turn to any of more than 12,000 U.S. financial instutitions.1 Unfortunately, many institutions rely on serendipity when it comes to customer acquisition. They think if they have a branch location somewhere along consumers’ work or Saturday errand routes, then new customers will come.
4 Proven Ways to Accelerate New Account Openings
Let’s face it … when it comes to help with managing money, there’s a lot of competition out there. Consumers have plenty of choices. They can turn to any of more than 12,000 U.S. financial instutitions. Unfortunately, many institutions rely on serendipity when it comes to customer acquisition. They think if they have a branch location somewhere along consumers’ work or Saturday errand routes, then new customers will come. However, you shouldn’t take a “maybe” approach to customer acquisition.
5 major retail banking challenges in 2018 (and how to overcome them) - CUInsight
Challenge #1 – Wrangling The Rising Interest Rate Environment In a perfect world, financial institutions would enjoy a stable, predictable interest rate environment. You’d have a high concentration of core deposits and reasonable costs to acquire more of them. In the real world, the Federal Reserve has undertaken a policy of quantitative easing a number of times over the past decade.
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