Millennials need more than just a credit union

This set needs a trusted professional.

I’m going to say something that’s a little controversial.

When it comes to capturing the millennial market as new account holders, perhaps financial institutions are doing it wrong. And perhaps we’ve been going about it the wrong way for quite some time.

First, let’s take a look at the current state of millennial finances:

  • In 2017, 46 percent of young millennials (aged 18-24) surveyed by GoBankingRates had no savings, up from 31 percent in the previous year.
  • 41 percent of older millennials (aged 25-34) had $0 in savings in 2017, while 33 percent said they had $0 in savings just the year before.

The other half of the millennial population is doing quite well with their savings, but is hesitant to invest.


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