3 things Millennials really care about when switching credit unions

by The Financial Brand

Millennials are the largest segment of consumers shopping for checking accounts. In fact, roughly 40% of those looking for a new credit union are under 30 years old. Failing to compete in this segment spells doom for financial institutions.

by: Rob Rubin

Most Millenials will begin their research for new banking products online. They are, after all, digital natives. So it’s imperative to make sure that the details Millennials care about most — like mobile capabilities, fees and locations — are ridiculously easy to find on your website on all platforms (e.g., desktop, tablet, mobile).

What Matters Most to Millennials

1. Convenient locations. This is the real challenge for retail banking institutions: Branch locations are the primary reason Millennials include institutions in their consideration sets, and while many will open their account at a branch, future visits will be sporadic at best. Leading institutions will be successful leveraging alternative means to drive growth outside of branch locations.

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