Millennials are the biggest and most educated generation in the history of the U.S. Although they constitute a sizeable 30% of the workforce, don't automatically assume they are ideal prospects for your bank or credit union.
Almosta quarter (23%) say they carry less than $5 in cash seven days a week, according to a survey conducted by the Independent Community Bankers of America. About 40% report that they are overwhelmed by debt obligations, primarily from credit cards and student loans. A majority report they are living paycheck to paycheck, according to the Wells Fargo Millennial Survey.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access