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.

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