GLENDALE, Ariz. – It’s not often you run into a teen who can explain the difference between a credit union and a bank. But for a group of local teens, this difference has become their passion and Credit Union West has given them a platform to spread the word. The credit union’s Young Adult Advisory Panel recently developed YouTube videos to inspire their peers to make smarter financial decisions. Teens and wise financial advice don’t usually go hand-in-hand but this group’s goal is to break from the traditional thinking that money matters are only for grown-ups.
It all began in 2013 when the credit union said it launched its first youth panel made up of high school students. The initiative began as a way to engage with young adults and learn how to better communicate with them and meet their generation’s financial needs.
“There’s a growing gap between traditional banking and the way Millennials want to manage their money,” said Bob MacGregor, president/CEO of Credit Union West. “These young consumers’ do things differently and it’s important we build strong relationships so we can deliver the innovative financial solutions they crave.”
MacGregor said the credit union wants to educate youth about the credit union difference and help ensure they have a positive view of smaller community-focused financial institutions. He believes empowering youth with this knowledge early will give them a higher level of confidence when it comes to choosing their life-long financial partner.
Each year the youth panel engages in monthly meetings where they meet with various department managers to learn about the credit union’s products, services, and community commitment. This year they focused on developing YouTube videos to educate their peers on financial topics. They wrote scripts, developed story boards and recorded the videos with help from the staff. They can be viewed on the credit union’s YouTube channel at www.youtube.com/creditunionwest.
The three video topics are mobile banking and managing funds, credit unions versus banks, and tips for first-time car buying. Humphrey said the credit union will continue to seek ways to bridge the gap with the younger generation. She announced that the credit union will also be launching a financial blog next month that is geared toward young adults.
“The blog will deliver advice via stories and videos on finances, college life and career choices,” she said. In an effort to avoid boring and condescending financial information, the credit union partnered with brass Media to deliver content that is for young adults, written by young adults.
The Young Adult Advisory Panel runs through the school year ending with a social gathering to celebrate the successes the group achieved throughout the year. Three second-year members developed a Money Management after-school program based on the financial knowledge they gained and based their DECA project on it. The students made it to the international level at the 2015 DECA Conference in Orlando.
Workplace Award
Separately, Credit Union West has earned a spot on the list of the 2015 CareerBuilder Top Companies to Work for in Arizona for a third year in a row. BestCompaniesAZ, in partnership with CareerBuilder and Republic Media, compiled the list of Top Companies using an employee questionnaire as well as employee engagement and satisfaction surveys.
“Our belief in ‘One Team, One Vision, One Goal’ is evident throughout the organization,” said Credit Union West EVP Karen Roch. “We have an employee engagement rate of 96% [based on the AZ top companies survey]. You don’t find that often and it says a lot.”
The credit union has 188 employees with 11 branches in Maricopa and Yavapai counties as well as Business Services, Real Estate and their corporate office in Glendale.
With staff in two counties, Roch said it’s important to maintain an open door environment which encourages transparency and honesty. “At Credit Union West, our motto is ‘A Great Place to Work for Great People’,” she said. “We strive to be an employer of choice through employee engagement, integrity, and encouraging a supportive working atmosphere that sets us apart from traditional work environments.”
The credit union offers an array of employee benefits, including comprehensive medical and dental insurance, an employer-matched 401(k) plan, pension plan, tuition reimbursement and an employee bonus program. Every year, it also holds an off-site employee appreciation event where they recognize the staff’s hard work and dedication with a day of fun and team-building.