Illustration for Marketing Maven Column at Enterprise Magazine

Youth marketing standbys like Fat Cat are an anachronism. Credit unions are scrambling to design new strategies to attract today’s youngsters.

Canada’s population is aging and marketers are waking up to how kids, teens and young adults are beginning to rule Canadian markets. But do middle-aged credit union marketers know how to appeal to this younger demographic?

Do fat cats and kangaroos, for instance, have what it takes to capture kids’ interest and imagination in the world of finance?

It all depends on what these credit union creatures are offering. Fat Cat, it seems, is just that – a lazy old creature that waits for young kids or their parents to open a Fat Cat account. If the kids are lucky, they might then receive an occasional newsletter or maybe a birthday card. Today, those credit unions in Canada that still offer Fat Cat accounts are generally leaving puss undisturbed in his basket...

by Diane Luckow