Nerd Wallet advises millennials to invest in credit unions

by: Christina Pontisso

Millennials aren’t seeking financial advice. Nearly 25% of those born between the years 1980-1989 said it’s because they don’t trust anyone for reputable money advice, as stated in a recent study from Fidelity investments (Huffington Post Dec. 9). Other young adults surveyed reported that they worry about their financial state on a regular basis.

So where are young adults suppose to turn to? Credit Unions! Even Nerd Wallet agrees, “Because credit unions are nonprofit organizations, any money they make off of their financial products is reinvested into their institutions,” said NerdWallet’s Graham Ober in the Huffington Post blog. “This helps them provide more affordable fees on loans and mortgages. “It’s in every credit union’s best interest, therefore, to have members who are knowledgeable about their finances and who don’t, for example, default on loans.”


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