Contactless debit, mobile use aim to attract members

BOSTON (9/8/09)--Attracting new members, especially younger ones, remains a critical challenge for more than half of credit unions, says a recent study. As a result, some credit unions are altering their marketing strategies and testing products such as contactless debit cards and mobile banking services.

More than 55% of credit unions have trouble attracting new members, according to a report by Boston-based Aite Group LLC. They are testing innovative products in hopes of attracting Gen Y consumers--the 76 million consumers ages 29 to 33 (ATM & Debit News Sept. 3).

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Courtesy of cuna.org