Consumers on mobile devices
It's no secret that credit unions are struggling to sustain their member growth with younger generations opting for bigger national banks. According to Zest.ai, despite the youthful average American age of 38.5, credit unions are predominantly frequented by a more mature crowd, where over 50% of Americans over the age of 50 are members of credit unions. The AI lending company also revealed that credit unions seem to have a generational gap, as less than 20% of Americans under 40 are taking advantage of their services.
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