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How Credit Unions Can Use TikTok to Reach Gen Z

Not reaching Generation Z means your credit union is missing out on a whole demographic of members. Think about it. Gen Z, or those born between the mid-90s and 2010, aren’t just kids anymore – they’re growing up, graduating from college, and entering the workforce. Soon enough they will be one of the biggest consumer demographics for credit unions. That’s why it’s so important to use popular social media platforms like TikTok to reach Gen Z.

Sure Gen Zers are starting to build their financial futures, but they may need more help along the way. According to Next Gen Personal Finance, only 22.7% of 2022’s graduating high school class has taken a personal finance course. This means the majority of Gen Z individuals may have little to no formal education on managing money. Credit unions can see this as an opportunity to help educate younger members and build better relationships with them in the long term.

But how can credit unions start reaching these Gen Z individuals? Building a robust TikTok and content creation strategy.

Why should credit unions use TikTok?

When many of us use TikTok, we’ve probably seen a lot of dance videos or funny trends that only make sense if you’re a frequent scroller. But there’s more to the app than meets the eye. Just last year, TikTok celebrated reaching 1 billion monthly active users. TikTok isn’t just one of the top downloaded apps, it’s also the most popular among Gen Z and Millennial users. As of April 2021, 48% of U.S. adults between 18-29 use TikTok, compared to 20% of adults between 30-49. This means TikTok is one of the best ways to reach Gen Z and should be a crucial component of your overall marketing plan.

Credit union TikTok ideas

If you’re on board to use TikTok for your credit union, it’s best to start with a sound content strategy. While many TikTokers post reactionary videos to popular trends and news stories, you shouldn’t jump on the app until you understand what your goals are and what you’re trying to achieve. Are you trying to educate younger audiences? Are you looking for new members? Are you trying to get your credit union brand noticed? Then your content strategy and video ideas should reflect that.

  • Here are some content ideas to get you started:
  • Financial education videos
  • The history of your credit union
  • Local guides & things to do on a budget
  • Behind-the-scenes office humor
  • Financial trivia or member interviews

It’s important to remember that TikTok videos directly advertising a product or service may not perform as well. Instead, the app should be utilized in a way that showcases your brand personality, financial expertise, and unique selling proposition.

Let’s dive a bit deeper into how credit unions can stand out on TikTok.

Create content unique to your credit union

Hopping on TikTok trends can work well for the everyday user, but brands need to put more thought into their videos to truly stand out. Plus, all content should tie back to what you are, who you serve, and what you offer. 

Truliant Federal Credit Union in the Carolinas and Virginia have taken this concept by creating Money Burst, a sub-brand that offers quick bursts of money advice. The credit union brand pushes out short videos across YouTube and TikTok for the most amount of exposure and utilizes a financial expert to talk on behalf of the organization.

While their financial tip videos are useful, it’s the humorous videos featuring their Truceratops mascot that have the best performance. These videos take everyday trends and make them unique to their mission by incorporating brand values and the organization’s personality. This light-hearted nature resonates more with users and helps them feel like they aren’t being sold to, thus beginning the journey of brand loyalty. 

Tap into relevant TikTok influencers 

As a credit union, managing your day-to-day business is enough work on its own. Finding the staff to manage and create TikTok videos might not be realistic. That’s why many financial institutions are tapping into the resources and followers of influencers to create content. 

Community Credit Union of Florida did just that when developing its 321 Financial Liftoff series. Rather than having employees talk about financial literacy, the credit union hired local influencers to catch the attention of younger audiences. They were careful to pick people who fit their brand values and hired influencers from local universities, NFL teams, businesses, and more. 

When it comes to influencer marketing, it’s best to work with individuals who are already members of your credit union and can authentically speak of your organization. While these TikTokers may not be the biggest influencers on the app, they will have followers that are in your local market and relevant to you.

Don’t let the idea of using TikTok overwhelm you. Every credit union has a story to tell and the experts at Vibrant can bring that story to life on a variety of platforms, including TikTok. We take the time to understand your target demographic and know how to increase your membership portfolio through smart marketing.