NerdWallet is holding a national contest to encourage credit unions to come up with innovative, far-reaching plans to engage with Generation Y.
They are offering four cash grants to help jumpstart the initiatives.
All credit unions are eligible for the top overall prize of $2,000 and the runner-up prize of $1,000, regardless of size. Only smaller credit unions are eligible for the remaining two prizes.
Generation Y is typically defined as 18 to 29 year-olds. They make up about 25% of the population but only 9% of credit union membership. This tech-savvy generation has graduated into a recession with few job prospects and crushing student loan debt. They are prime candidates to be won over with lower fees, higher savings rates and better financial literacy programs.
For additional information on prizes, how to enter and judging, visit NerdWallet's website.
Photo courtesy of NerdWallet.com