What younger generations want from their lenders

Welcome to 2024: where technology is taking over, instant gratification is in, and waiting for anything is out. We used to hear about millennials, but now we are in the era of Gen Z and (can you believe it) Gen Alpha!

With the younger generations becoming old enough to make lifestyle decisions, we see the classic lending that millennials or older are used to becoming “so yesterday.” Does your credit union and lending team understand the tendencies of these generations? What are you doing to keep up?

To help, let’s cover some of the lifestyle trends influencing younger generations’ spending and lending habits and what your credit union can do to stay relevant.

In-person or online?

While some of us enjoy the good old face-to-face experience at your brick-and-mortar credit union location, we are seeing a greater push to improve online tools and websites. Your online tools are like the Facebook or Instagram profile for your borrowers to check you out. They will judge how “in” you are by how techy your website is and how much your online tool suite talks with your core. What are your online resources saying about your credit union?


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