In this article, the Financial Health Network’s Thea Garon discusses data from the U.S. Financial Health Pulse that finds only 24% of millennials are financially healthy, and what banks can do to effectively serve their millennial customers.
“With an estimated 73 million millennials in the U.S. according to Pew Research Center, this is an incredible opening for banks. Millennials who say their primary financial institution is helping them improve their financial health are far more likely to be satisfied with that provider; to recommend the institution to family or friends; and to say that they will obtain financial products and services from it in the future. These trends hold true across demographic groups.”