85% of Gen Z say they’ve walked away from a financial decision because they were confused by the language, according to new research conducted by Zogo and dcdx. With only 4% of Gen Z as credit union members, this further suggests that it’s not a lack of access, or even a lack of interest. Rather, Gen Z’s financial barriers are rooted in communication, creating friction in moments that should feel straightforward, whether that’s finding a financial institution, opening an account, or taking out a loan.
When you step back and look at it, that friction isn’t happening at the margins. It’s happening right at the point of decision, when someone is already engaged and trying to move forward.
Identifying the points of friction
For Gen Z consumers, financial decisions don’t begin with a lack of options. They are surrounded by countless financial institutions, all competing for their attention and share of wallet.
But access alone doesn’t guarantee action. If someone doesn’t fully understand what they’re agreeing to, how something works, or what the long-term impact might be, convenience doesn’t necessarily move them forward. In some cases, it just makes it easier to disengage.
When the experience feels intimidating or built for someone else, engagement quickly turns into friction. That’s where many Gen Z consumers find themselves, close to taking action, but not quite confident enough to follow through.
How credit unions can simplify communication
Addressing this doesn’t mean removing important details or oversimplifying financial concepts to the point where they lose meaning. It means rethinking how those concepts are introduced and explained.
In practice, that can look like using more conversational language, breaking down complex ideas into smaller, more digestible pieces, and connecting information directly to real-life scenarios that feel familiar.
It also means recognizing that understanding isn’t built in a single moment. It’s something that develops over time, through repeated exposure and opportunities to apply what’s been learned in a way that feels manageable.
Luckily, Gen Z is still forming their financial habits and relationships, which makes this a particularly important moment for credit unions.
If early experiences are defined by confusion or uncertainty, it becomes harder to build trust and long-term engagement. But when those experiences feel clear and approachable, it creates a very different foundation, one where members feel more comfortable exploring, asking questions, and taking the next step.
Accessible financial education for all
Zogo, a financial education platform, was built to democratize financial literacy by creating content that is clear, relevant, accessible, and engaging. We’ve helped hundreds of credit unions educate and empower their member base by translating complex financial topics into content that feels approachable and easier to act on. Our partners not only see improved financial wellness among their members, but also stronger engagement, including increased account openings. When the language becomes more intuitive, the process becomes less intimidating, and more people are able to move forward with confidence instead of stepping away. Ready to help your members feel more confident with their finances? Book a demo with the Zogo team today!
