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As a hard rain continues to fall, don't forget about Gen Y.

It's hard to miss the effect the economy is having on people across the country.

Everyone is feeling the pinch, including Gen Y. When offering services to members, whether it's free financial literacy classes, loan refinancing or just financial advice don't forget about Gen Y.

When a parent gets laid off it affects the entire family, and while it is extremely important to get services to the parents, don't forget about what you can offer their children as well.

Help them figure out a plan to continue to save for their children's education even while they're looking for work. Let them know about accounts that are available for their children to open.

High school students may not be getting as much financial support from parents. They may need to go out and get their first job. Help them open an account and develop a plan with the money they're earning. They may need to purchase a car for themselves instead of relying on their parents to supply one. Help them purchase one and let them and their parents know what auto loans are available.

Gen Yers getting ready for college or already in college may be struggling to figure out how to pay for it or how to fill in a financial gap left by a parent that was laid off. Help them develop a savings plan or point them in the direction of student loans they can take advantage of.

The Gen Yers just getting out of college are going to be the ones that are most in need of your help right now. They're going to need to figure out how to manage expenses while looking for a job and preparing to pay back any student loans they have.

Even older Gen Yers that already have jobs and are not in financial trouble may be shaken up by everything that's going on and may want to start now to save for future big purchases, such as a house. They may need help figuring out how to start paying down debt they have or may just simply want start a savings plan.

Frustrated Gen Yers that got laid off or recent graduates that haven't been able to land a job in their field might be looking to go back to school and will need help figuring out how to pay for it.

Showing my generation a more human side to the financial industry will pay off for credit unions in the long run. By getting us set up for our future, you will be guaranteeing that we come to you for loans, mortgages and any other financial service that we need.

--lsiegriest@cutimes.com

Sarah Snell Cooke

Editor-in-Chief
COPYRIGHT 2009 Summit Business Media
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

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Title Annotation:GEN Y BACK TALK
Author:Siegriest, Lindsey
Publication:Credit Union Times
Date:Mar 4, 2009
Words:449
Previous Article:Staking out the stats.
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