Credit unions are struggling to uncover what Generation Y wants and needs, and the Filene Research Institute has released a report that can help.
The report, "Attracting Young Adults: What Do We Know About Their Use of Financial Institutions and Payment Behaviors?" is a great resource for credit unions. Reading through it even helped me recognize some of my own requirements when it comes to financial institutions.
The first part of the study looks at what financial institutions young adults use and why. It's no secret that Generation Y values convenience when it comes to selecting a financial institution and in most other aspects of life. Many credit unions think this means they need to concentrate on electronic services, but one thing I found interesting was that the report showed a convenient location is also highly valued among young adults when selecting a financial institution.
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