Social media has become the first stop for financial advice and education for younger generations, while AI has flooded the internet with content that is not always trustworthy. In this episode, Meredith Olmstead and Sophie Bawany discuss how “de-influencing” is reshaping financial marketing, why authenticity matters more than polished sales messaging, and how credit unions and community banks can use human-first social media content to build trust, fight misinformation, and connect with younger audiences.
Key Takeaways:
1. AI Can Scale Content, But It Cannot Automatically Build Trust. AI makes it easy to create massive amounts of content quickly, but that creates a new challenge: credibility. Younger audiences are becoming more skeptical of polished online content, especially when it comes to financial advice. Credit unions and community banks have an opportunity to step in as trusted voices that help “de-influence” misleading financial trends.
2. Social Media Is Now the First Financial Touchpoint. Gen Z and younger millennials are not starting their financial research on Google or bank websites anymore. They are searching directly on TikTok and Instagram because they want quick, digestible, relatable information. Financial institutions that create educational short-form content can meet consumers exactly where they already spend their time.
3. Authentic Content Outperforms Polished Sales Messaging. Today’s audiences can spot overly produced sales content immediately. The institutions building the strongest trust online are the ones leading with honesty, education, and human connection instead of product pushes. Real conversations, relatable people, and transparent messaging are becoming the new competitive advantage
Transcription:
Meredith Olmstead:
Hi, there. I'm Meredith Olmstead, CEO and founder of Figrow Solutions. We are a digital marketing and sales consulting agency. We work exclusively with credit unions and community banks. And I am here with Sophie Bawany. Sophie is our ... I like to call ... She's our social media strategist, but really she is our social media guru. She is, like, the most talented social media strategist that I know really. So, say hi, Sophie.
Sophie Bawany:
Hi, guys.
Meredith Olmstead:
So, Sophie has a way of making content for banks and credit unions fun on social media, which is, like, I thought impossible. It's, like, making insurance content fun, but it's amazing.
And she has been ... Her lifelong challenge is to make our clients have fun and entertaining content on socials. And so, we have really seen a huge resurgence of social media for our credit union and community bank clients over the last year, year and a half. And it's really lined up with AI, with the growth of AI. And so, we were talking about it. We've been talking about it internally.
And I said to Sophie, "Let's hit record on this, and talk about this, and make a podcast about this." So, why is all of a sudden now are credit unions and banks seeing a need for more content and trying to build trust more in the social media environment now that AI is making this huge push to the front?
And there's all these weird terms and I'm old, and Sophie knows the youngsters. She's not as young as she looks, but she knows the younger generation. So, Sophie, what is going on? And why is there all of a sudden this resurgence of social media? It's so funny where all of a sudden TikTok ... And we're seeing banks and credit unions on TikTok, and Instagram is huge, and reels, and all of this content there. And our clients are going nuts on these platforms and these channels. Why is this? What's happening?
Sophie Bawany:
So, it's interesting. There's two parts to this answer. Why it's happening is AI, as everyone knows, has come in and what AI does brilliantly is AI scales content. So, you can create 20 pieces of content in 10 minutes, but-
Meredith Olmstead:
Right.
Sophie Bawany:
... scaling your content doesn't mean it's credible.
Meredith Olmstead:
Okay.
Sophie Bawany:
So, that's really where the credibility and that word that I've been ... The mountain that I'm dying on right now is the word de-influencing, which is why Meredith was laughing about new terminology.
Meredith Olmstead:
Right.
Sophie Bawany:
There's this need now to de-influence a lot of that content, because if I'm creating 20 pieces of content and of 20 pieces, three of them are factual, there's 17 pieces of content that may look amazing, compelling, humorous, that are out there in the universe for people to consume and believe. That's okay if it's a recipe or a how-to or makeup, but the problem is when we're talking about finances, you now have a responsibility, because people are making real financial decisions based on incorrect information.
Meredith Olmstead:
Got you.
Sophie Bawany:
And so, it's really great when we talk about de-influencing. De-influencing is happening across all topics and all subject matter, not just finance. But it's especially important for finance, because we have an authority availability. I might not have a credible doctor available to de-influence my medical advice on Instagram, but I definitely know that there's my local credit union who, if I hear something that's a little off, they can be the voice of reason and that guidepost and that platform that says, "Hey. You might have heard this, but this is the actual way to accomplish this," which is why-
Meredith Olmstead:
And, honestly ... Well, I was going to say, I didn't mean to interrupt you, but, honestly-
Sophie Bawany:
Which is why-
Meredith Olmstead:
... you see doctors, you see-
Sophie Bawany:
Yeah.
Meredith Olmstead:
... investors, you see plumbers, you see people like that on Instagram, who are "de-influencing" or giving advice, and saying, "Oh, I'm hearing this and that's not true," or, "I'm hearing that and don't believe the hype," or whatever.
So, honestly, it is happening in a lot of other areas too. So, why not have your credit union or your bank have a mortgage expert or somebody who's an expert in finance or consumer lending or in how to clean up your debt or consolidate your debt come out and do some great content to help people understand the best way to make good decisions, sound decisions, and debunk some of the information that's out there that's not a good idea.
Sophie Bawany:
It's also the thing that's really scary is when you see the younger generation, the people that you're actually trying to target, your next wave of, ideally, credit union members, your Gen Z, your younger millennials, Gen Alpha even, they have this perception that you can get rich quick, there's fast money. And you have these podcasters and these "finance influencers" who are like, "I'm 27, and I have a $30 million house." That's not normal.
Meredith Olmstead:
Right.
Sophie Bawany:
But the problem is when you have people that are young and impressionable, and if something looks cool and if it's consumable content, they start to realize and they start really buying into this narrative that is not real.
So, some of the best content we've seen is when you have a credit union actually play a clip from one of these influencers as a reel, and then you sit there and you talk through why X, Y, Z is not a good idea, and to give alternatives.
Meredith Olmstead:
Yeah.
Sophie Bawany:
You have to do it in real time.
Meredith Olmstead:
Yeah. Or why it's not realistic.
Sophie Bawany:
Yes.
Meredith Olmstead:
And, "Hey. Look, one of a million people can become an influencer," or whatever ... It's like becoming a professional athlete. Likes, yes, of course, you're going to have those one in 10,000 or one in 10 million, or whatever, people who are going to become really, really successful and make these amazing amounts of money. But for all of those people, you have tens of thousands of people that aren't going to make it and aren't going to be able to pay their bills doing that kind of content, and you really need to be realistic about not getting yourself in debt and making sure that you're getting a skillset and making sure that you have options out there and making sure that you're making good decisions financially, and all those kinds of things. Okay. Good.
So, what else? And why social media? Why are we doing this or why is it important to do this on social media of all the channels? And not other places.
Sophie Bawany:
So, what's happening now is social media is the first financial touchpoint now. For this generation, older generations would talk to their parents or their friends or they'd get ... No. Now people are on their phones either TikTok or Instagram and they're using TikTok or Instagram as search engines.
We've spoken about this before. So, this is the first place they're going to get their information. Nobody is looking at brochures, nobody is ... They're not even looking at your websites. They're not even going on Google. They're going direct to social media, because it's easy, consumable, short content and nobody wants to read pages on a website anymore.
Meredith Olmstead:
Right.
Sophie Bawany:
But 30 seconds of a reel? "Yeah, I can invest 30 seconds of my time if it helps me learn about my taxes for the first time"-
Meredith Olmstead:
Yeah.
Sophie Bawany:
... "Yeah. I have a minute to spare."
Meredith Olmstead:
Yeah.
Sophie Bawany:
So, it's that mentality of content consumption that makes social media incredibly valuable.
Meredith Olmstead:
Well, and they're on those ... That's the channel they spend all their time on.
Sophie Bawany:
Yeah.
Meredith Olmstead:
So, of course, if they're on TikTok or they're on Instagram, they're just going to search whatever they want to learn more about on that channel. So, that's why you have to make the content on that channel, because, like you said, they're not always going to go over to their search engine on their phone and search anymore. They're going to stay on the channel they're in, because they find so much great content there already.
Sophie Bawany:
Yeah.
Meredith Olmstead:
And so, it's really there. I think it's amazing too where I've been seeing so much now, you don't even ... Because it's not even social media anymore. It's interest media, and you don't even ... Because now algorithms are so smart that they don't even need to be following you in order for your content to be shown to them. Say, they're searching, "Oh, best credit card for 20 year old," they don't need to be following you to see your content. If they're looking for that on Instagram or on TikTok and Instagram or TikTok knows that you're making great content around topics like that, as soon as somebody is starting to look for something like that on Instagram or TikTok, boom, you're going to show up. They will never have to push the follow button to see your content.
Sophie Bawany:
Yup.
Meredith Olmstead:
But because they know, because Instagram sees that they're showing interest in that topic, it will start to show your content to them over and over again. Even if they never follow you. It's amazing.
Sophie Bawany:
It is. It's annoying sometimes, too. As a consumer, sometimes it's, like, I said, "I wanted a cake recipe once," and then suddenly my entire feed is full of-
Meredith Olmstead:
Is full of cake recipes. Yeah.
Sophie Bawany:
And that's just what it is. That's that human nature of content consumption, and the algorithms want you to stay on their platform. So, anything they can do to keep you on their platform. And that is that window of opportunity for banks and credit unions where, like you said, you don't have to be following somebody. Your content will be pushed out, if it's matching that topic.
Meredith Olmstead:
Yeah. But the key is not to sell.
Sophie Bawany:
Yes.
Meredith Olmstead:
To try to be authentic.
Sophie Bawany:
Yes.
Meredith Olmstead:
And that's the thing about de-influencing and trying to rebuild trust with people. Right?
Sophie Bawany:
100%.
Meredith Olmstead:
It can't be super polished.
Sophie Bawany:
No.
Meredith Olmstead:
If it's polished and if it's all graphic, and it's got all the sales, and we all look perfect, and blah, blah, blah, the younger generations are like, "I'm out. Nope. They're just trying to get my money. I can't trust them." What they want is someone talking to them just like they would talk to that person.
Sophie Bawany:
Yes. And there is a huge study going on right now about the language barrier, the actual communication and language barrier between generations and how you can say something one way and it's just not being translated or understood by younger generations. There's an entire study on it, but, more importantly, you have to lead with information and trust, and you have to speak to ... These generations value honest, straightforwardness.
So, if there's a problem, call it out in a way that's respectful. And if there is something that you see, say it, but in a way where, again, it's consumable and when you start to build that trust, your product sales and your membership and your deepening of those relationships will authentically happen, because that generation is trusting you to be real with them, to level with them.
Meredith Olmstead:
Right.
Sophie Bawany:
If you automatically start to sell ... Even if you have a great product in the market, you can't lead with your product, because-
Meredith Olmstead:
Right.
Sophie Bawany:
... your product is going to come at the very end.
Meredith Olmstead:
Right. You lead with problem that-
Sophie Bawany:
Yes.
Meredith Olmstead:
... your product solves for.
Sophie Bawany:
Yes.
Meredith Olmstead:
And that's why credit unions and smaller regional community banks already have an advantage. Right? Because-
Sophie Bawany:
100%.
Meredith Olmstead:
... they're not actually about profit. Or that's not their first priority.
Sophie Bawany:
Yeah.
Meredith Olmstead:
Of course, they have to make money. They have to make revenue. They have to pay their bills, they have to pay their salaries. Obviously, they're not there to lose money. Okay?
But they're there for the benefit of their members and of their customers. They're there to help them afford life, to help them solve their problems. And they really are there. That's really what they're doing. That's their mission.
And so, they have a huge advantage in all of this. Right? Because-
Sophie Bawany:
Yeah.
Meredith Olmstead:
... they do actually really care. They're not really just there to try to make a huge amount of money and take somebody's money, and head on home and whatever. So, it is a big advantage in this whole algorithm and how this all works, because they already care. It really gets back to the original purpose of social media back 10, 15 years ago when people were there because they were just trying to get to know each other and build relationships. And then if things went pretty sideways, but it's ... AI is almost driven us back to the core.
Sophie Bawany:
It is. It's interesting, because as great as ... It's fun, because AI, you can ... Good AI content, you pause for a second and you're like, "Oh, is this AI?" Bad AI content makes for good laughs, but it's the middle part where it's ... The ones that are really well-made AI content, that's the danger zone, because it looks so good, and it looks so convincing.
And while that is ... You can do great things if you can control the narrative and the information going out, but as long as people are able to just bulk-create, the benefit that credit unions have is they are in the community. Right? They are physically there. Most credit unions are very active within their communities. They do a lot of outreach. Channel that and use that trust to drive and to bring in the younger generation, because those are the value statements ... Being more socially aware is something we know all Gen Z and millennials are very much ... They're more environmental friendly, they care about the world around them. They're not just focused on themselves. And those are all things that credit unions naturally embody.
Meredith Olmstead:
Yeah.
Sophie Bawany:
So, you do already have an advantage.
Meredith Olmstead:
Yeah. And you keep the human part of your brand and what you're doing as an institution front and center. And then you bring the products and the services around the side.
Sophie Bawany:
Yes.
Meredith Olmstead:
And what ends up happening is if you can keep the human side of your brand in front of people, that keeps your brand top of mind. And then what that brand stays top of mind, when somebody has a financial question or they have a financial need, they'll remember, "Oh, wait. What about that person who did this or just said that?" Or just had this great interaction with ... "I bet you they might be able to help me with X, Y, or Z."
And then they come around and ask proactively about the product or the service. So, it doesn't have to always be product first and rates first and friendly service first and all those things. It can be just about building relationships. And really being real, because that's the real difference, not only in the de-influencing, but also understanding that people still do want to buy from people, and they are a little reticent when it comes to all this AI content.
So, the trust is lacking in it. So, I think it's definitely showing that social media is not going anywhere for financial institutions for sure. Awesome. Well, thank you so much, Sophie. This is super useful. If you want to learn more about social media for your credit union or community bank, please visit us at Figrow.com. We've got lots of other blogs, case studies, podcasts. We would love for you to come and check out our content there. Otherwise, let's just all get out there and make it happen.