Millenials Turn Up for Community Banks
ICBA, The Center for Generational Kinetics
Wednesday, October 22, 2014
A new study finds that Millennials are interested in local banking and would prefer to bank with locally owned and operated community institutions. The study found that 46 percent of Millennials feel banking with a locally owned banking institution is important. Of the age groups surveyed, Millennials were the most entrepreneurial, with 41 percent of saying they are very interested in starting up their own business, compared with 34 percent of Gen Xers and 17 percent of Boomers. Over 60 percent of Millennials who intend to start their own business hope to do so within the next two years.