Changing consumer habits: Young generation prioritizes local alternatives
As digital banking reshapes the financial sector, community banks and credit unions are set to attract Generation Z and millennials. These tech-savvy individuals prefer smaller FIs. A recent report reveals that 52% of Gen Z and millennials are considering a switch to community banks, while 47% view credit unions as appealing options. This shift highlights a growing discontent with the impersonal service commonly found at larger banks.
