Until recently, I believed the Baby Boomer generation was our largest demographic group, at about 78 million. Apparently not. Generation Y –  the oldest of whom turn 26 this year – totals 100 million.

That sure puts a different slant on a credit union’s efforts to secure business.

I recently read more about Generation Y in a USA Today article titled “Young Renters Want Small Spaces, Big Appeal.” It discusses how builders have changed their methods to cater to this group.

I was particularly intrigued by the fact that Generation Y has kicked off an entire trend in real estate – the rise of the micro-unit. With small incomes and a value-conscious mindset, Gen Yers are attracted to super-small apartments in metro areas and are trading size for location.

Will this mindset guide Gen Y when selecting financial service products? If so, credit unions would do well to look into the “less is more” concept to attract this large demographic full of potential credit union lifers.