5 things your financial institution needs to know about Gen Z

The oldest members of Gen Z are approaching their mid-20s, and this young generation is already changing the world, shifting the social media landscape and throwing their weight behind the social movements sweeping the country.

But if you’re like most credit unions, you don’t deal with a lot of Gen Zers from day to day: most CU members are middle-aged. Don’t worry, though – we’ve got you covered. Here are five things your financial institution should know about Gen Z:

  1. They range in age, from 23 years old to babies born yesterday. The Pew Research Center has formally designated anyone born after the year 1996 as Gen Z, but there’s no set end date to this generation of Americans. So while the oldest Gen Zers are 23 this year, the generation technically includes today’s school-aged children, toddlers and infants as well. When you see Zogo reference Gen Z, we’re typically referring to the teens and twenty-somethings that have some purchasing power (no offense to the toddlers of today).
  2. They value diversity. Most Gen Zers view the country’s growing racial and ethnic diversity as a good thing — likely linked with the fact that members of Gen Z are more racially and ethnically diverse than previous generations. This generation places a high value on diversity and inclusion in the workplace as well, important to know for future recruiting efforts.

 

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