Gen Z and millennials are made up largely of socially conscious consumers. According to a recent Deloitte survey, they are “channeling their energies into holding themselves and others accountable.”

This focus on accountability is a hallmark of these newer generations. They believe in the power of individuals to create change, and they are vocal and active in their expectations of authentic, honest, and positive corporate citizenship. It’s the same level of personal responsibility they expect from themselves, and from the older generations they see as the stewards of the businesses and institutions they interact with today.

Because of this, millennials and Gen Z prioritize a corporate culture that values employees, their communities, and their members. They want to know that their credit union not only treats their employees well (good benefits, career opportunities, and ethical business practices), but they want to see evidence of a commitment to the local community and random acts of kindness.

Examples of corporate social responsibility efforts your credit union can engage in that will resonate with these consumers and lead to increased memberships:

• Support local fund-raising efforts
• Create scholarship programs for your college-bound members
• Create an Employee Volunteer Program
• Giving back to the less fortunate within your community
• Sponsoring not-for-profit community organizations
• Establish internal and community recycling initiatives
• Use eco-friendly products
• Encourage diversity and inclusion

But beware, the only thing millennials despise more than bad actors are cynical attempts to appear to care about the community just for profit’s sake, and Gen Z is even more skeptical than their older counterparts.

What about the companies that your credit union partners with?

The scrutiny of the socially conscious consumer also extends to the companies a business chooses to partner with. It is essential that credit unions partner with accredited collection agencies that have been recognized for ethical business practices and good corporate citizenship in order to have a major impact in reinforcing your credit union’s positive, member-friendly image.

As an industry-leading collection agency, ConServe is a BBB A+ Accredited Business, BBB Torch Award for Ethics Recipient, and has been recognized as a Best Place to Work in Collections by employees. ConServe encourages upright corporate citizenship by implementing programs to support diversified community involvement. Most importantly, we’re based on the simple principle of helping people fulfill their financial obligations, in ways that preserve their dignity, enhance self-confidence and empower them with a sense of control. At ConServe, we call it Fostering Financial Freedom^Ⓡ®®. We take great pride in being a team of the right people, doing the right thing, at the right time, the right way.

Ready to Get Started?

Contact us today to learn how ConServe can become an extension of your institution and begin helping your members take back control of their finances.