Now in their late teens or early 20s, many members of Gen Z are launching their careers and becoming financially independent. Sixty-four percent of Gen Zers are now financially independent, up 5% from the previous year. To drive growth and engage this digital generation, building an innovative and accessible banking experience is more important than ever.

BAI recently released research on the trends and interests of Gen Z. "A Look at Gen Z Banking Habits and Attitudes" provides insights to understand generational banking attitudes and expectations. The research uncovered that, unlike older age groups, Gen Z does not feel as tethered to traditional financial service providers and is less likely to bank with only one financial services organization.

Knowing what is most important to Gen Z and which innovations to focus on is crucial to staying competitive and top of mind for Gen Z members. As Gen Zers enter adulthood and become financially independent, credit unions can take steps to grab their attention and gain their loyalty.