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Gen Y: 'High Maintenance' or 'Going Through a Phase'?

This Opinion piece looks at how to best serve the diverse group that falls under the label "Gen Y."

By Daniel Steere | Updated on July 15, 2013
There is a perception in the financial services arena that Gen Y consumers are predominantly digital bankers, whipping out their mobile phone or grabbing their tablet whenever they need to access their accounts or make a transaction. In reality, this is only part of the picture.

While Gen Y consumers, ages 21 to 34, are leading the digital revolution with mobile and tablet usage, they are not abandoning the traditional, higher-cost channels such as branches and call centers. In fact, they continue to be the highest users of high cost channels.

This simultaneous desire for both digital and traditional channels frustrates credit unions and paints Gen Y consumers as “high maintenance.”

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