By Mary Grace Roske
Last month, many credit union marketers gathered in Austin, Texas for America’s Credit Unions Digital Marketing School, an event focused on advancing digital strategies for sustainable growth. Over several days of keynotes, workshops and expert panels, it became clear that credit unions are rethinking how they reach, serve and engage members, especially in a digital-first world.
Two top-of-mind challenges widely explored at the event were engaging with younger generations and becoming more digitally discoverable – both of which will be essential for future growth and success.
A Critical Imperative
As the average age of membership rises – currently at 53 years old, significantly older than the U.S. average age of 38.5 – credit unions across the country have a high priority on attracting and engaging with new members, particularly younger ones such as Gen Z and Millennials, with whom institutions can grow with throughout their financial lives. And according to a recent study from America’s Credit Unions, only 7% of credit union members fall within the 18–24 age range, highlighting a critical gap in reaching this next generation.
However, this is easier said than done, as the competitive landscape has never been so crowded. Not to mention, these younger generations have high expectations when it comes to digital experiences, personalized interactions and competitive offers. The credit unions that fail to reach and form relationships with these members risk losing relevance and market share.
The Visibility Gap
Most members today aren’t walking into branches or browsing rate sheets to find compelling offers. Instead, they’re online, seeking convenience and digital ease. If a credit union’s deposit offers aren’t easily discoverable across digital channels, they’re essentially invisible. This presents a major roadblock for connecting with Millennials and Gen Z, who identify as digital natives.
Exacerbating the issue, large national players with sophisticated digital marketing capabilities and hefty ad budgets dominate search results and online ad space, making it harder for smaller institutions to be seen. For example, only eight financial institutions hold more than 30% of the overall CD market, despite not having the most competitive rates.
This challenge is also an opportunity. Credit unions don’t need to match big-bank spending – but they do need to leverage smarter digital strategies that ensure their offers and messages appear in the right places at the right time.
Leveling the Playing Field With Digital Marketplaces
In response, more credit unions are experimenting with lightweight digital marketing channels to help make their deposit offers more visible. For example, an area where credit unions really shine are CDs – their rates are typically more favorable than the largest bank brands, delivering greater return for savers.
Plus, with 80% of CDs set to renew in 2025, credit unions have an extremely timely opportunity to leverage CDs to grow market share and member acquisition.
One effective way credit unions are breaking through the noise is by participating in unbiased digital marketplaces that showcase CD offers from institutions of all sizes – not just those with the largest advertising budgets. These platforms can geo-target to ensure an institution’s CD offers reach nearby savers – those most likely to qualify for membership and open an account. Rather than relying on broad, expensive campaigns, credit unions can focus their marketing dollars on highly targeted, high-intent audiences.
Not All Are Equal
However, not all digital marketplaces are created equal. As credit unions evaluate potential partners, it’s important to consider how well a platform aligns with goals and budget constraints. For instance, it’s especially important that a marketplace is able to qualify leads for credit unions based on membership criteria, such as geographic eligibility, so staff aren’t wasting time following up with savers who aren’t a fit.
Flexibility in managing budgets is another must-have. The ability to pause or remove an offer once a daily or monthly funding threshold is reached helps institutions control costs while meeting deposit goals. Some platforms, however, require high monthly minimums that many credit unions simply can’t justify. Finding a partner that supports scalable, adjustable campaigns is critical to long-term success.
Rates Get Attention, But…
Although, visibility alone won’t drive results – it’s what happens after a member sees an offer that counts. Credit unions must ensure their CD products are compelling in both rate and term, and that the online account opening experience is seamless from end to end. A complicated or clunky process can quickly turn away even the most interested saver.
When these elements align, the economics can be highly favorable. And the digital presence tends to create a halo effect – many credit unions report increased in-branch visits and phone inquiries from savers who saw their offers online and followed up directly. These interactions often convert into new accounts, enhancing the overall return on investment.
However, to turn CDs into a true growth engine, credit unions must look beyond the initial transaction. The follow-up matters, especially when it comes to engaging younger, digital-first members. These savers often view CDs not just as yield vehicles, but as tools to help them reach specific savings goals. Offering shorter-term options, coupled with relevant messaging and ongoing financial education, can turn a one-time CD into a long-term member relationship.
Equally important is personalization. A mid-term check-in, a tailored renewal offer or a content series designed around smart saving habits can go a long way in fostering trust and engagement. Not every saver is the same. Younger members may prioritize flexibility, while older savers may focus on long-term stability. The ability to segment audiences and tailor communication accordingly can dramatically improve conversion and retention.
From Transaction to Transformation
The resounding takeaway from America’s Credit Unions Digital Marketing School is that credit unions have a strong opportunity to attract new members and grow – but they must be willing to embrace the digital marketing strategies that will allow them to compete in the modern digital-first landscape.
After all, digital discoverability has become key to success. Those that leverage savvy marketing tactics to showcase their compelling offers will be best positioned to build strong relationships with younger members and scale with confidence.
Mary Grace Roske is head of marketing & communications at CD Valet.
