{"id":1449,"date":"2020-08-24T11:26:28","date_gmt":"2020-08-24T16:26:28","guid":{"rendered":"http:\/\/formationcu.com\/?p=1449"},"modified":"2025-06-05T12:36:46","modified_gmt":"2025-06-05T17:36:46","slug":"why-choose-a-credit-union-millennials","status":"publish","type":"post","link":"https:\/\/formationcu.com\/?p=1449","title":{"rendered":"Why Choose a Credit Union: Millennials"},"content":{"rendered":"<div class=\"wpb-content-wrapper\">[vc_row][vc_column][vc_column_text]<span style=\"font-weight: 400;\">As the largest living generation in America, millennials have an immeasurable impact on our financial landscape. With around 72 million millennials, their spending habits and actions are quite literally defining the nation\u2019s future. They may be familiar with new iPhone models and binge-worthy Netflix series, but financial institutions are not on the top of their minds.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to a <\/span><span style=\"font-weight: 400;\">2017 FDIC survey<\/span><span style=\"font-weight: 400;\">, approximately nine percent of Americans from 25 to 34 don\u2019t have a checking or savings account. The reasons: high fees and a distrust of banks. Say what you want about millennials, but those are legitimate concerns. Credit unions exist as the perfect alternative to these issues that are now common practice at brand-name banks. Instead of dealing with impersonal institutions that thrive on hidden fees and lack customer empathy, millennials should consider the transition to a local credit union.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Why do credit unions make sense for millennials?<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">More Help &amp; Guidance\u00a0<\/span>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Unbeatable customer service is synonymous with credit unions. Due to their size, credit unions provide a much more personal, tailored approach when helping members that\u2019s often lost when dealing with a bigger bank. Personal finance is uncharted territory for millennials, and they\u2019ll undoubtedly need some help along the way. Credit unions are the perfect place to receive that guidance and advice.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Better Rates &amp; Lower Fees<\/span>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Regardless of age, the competitive rates and low fees offered by credit unions are a tremendous advantage. Due to their structure, credit unions can almost always offer their members better interest rates without charging gratuitous fees. Also, credit unions typically provide higher yields with savings accounts.\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Member-Owned<\/span>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Credit unions are for people, not for profits. Instead of being controlled by some shady board of investors, unions are collectively operated and owned by the members. For a group that distrusts banks, this is a transparent alternative that\u2019s grounded in community trust.\u00a0\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Mobility<\/span>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">There\u2019s a common misconception that credit unions fail to offer modern digital amenities &#8211; this couldn\u2019t be further from the truth. Most credit unions offer the same variety of apps and digital tools associated with bigger banks. Members can bank however they like without worrying about a loss of accessibility. Through<\/span><a href=\"http:\/\/formationcu.com\/contact\/service-center-atm-locator\/\"><span style=\"font-weight: 400;\"> Shared Branching<\/span><\/a><span style=\"font-weight: 400;\">, service centers and surcharge-free ATMs are available across the country.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Interested in becoming a member? Visit <\/span><a href=\"http:\/\/formationcu.com\/cdd-form\/\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\"> to start!<\/span>[\/vc_column_text][\/vc_column][\/vc_row]\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text]As the largest living generation in America, millennials have an immeasurable impact on our financial landscape. With around 72 million millennials, their spending habits and actions are quite literally defining the nation\u2019s future. They may be familiar with new iPhone models and binge-worthy Netflix series, but financial institutions are not on the top of their&hellip;<\/p>\n","protected":false},"author":17,"featured_media":1451,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15,16,29,21,10],"tags":[],"post_series":[],"class_list":["post-1449","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-credit-cards","category-loans","category-more-than-a-credit-union","category-mortgage","category-news","entry","has-media"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Why Choose a Credit Union: Millennials - Formation Credit Union<\/title>\n<meta name=\"description\" content=\"As the largest living generation in America, millennials have an immeasurable impact on our financial landscape. 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