The burden of student loan debt on 25 to 34-year-olds weighs heavily, with an average amount of $33,173. This significant figure represents the financial burden carried by young adults in their pursuit of education and opportunities. If you were wondering why a lot of younger people in particular seemed so stressed out about the fact that student loan repayments are beginning again, that single statistic should help you understand why.
However, it is important to note that the average age of credit union members is currently 53 years old, which falls outside the age range mentioned earlier. This raises an interesting question: how can your credit union help the younger generation?
While it is true that credit union members are not getting any younger, there is an opportunity to expand your reach. By offering personalized services and financial assistance to younger members, specifically addressing the student loan crisis, you have the opportunity to empower the next generation of leaders.
continue reading »