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Millennials, the generation born between 1980 and 1994, now outnumber Baby Boomers. Millennials are a demographic that's rapidly maturing in terms of their economic strength, social influence and political power. They represent the greatest challenge — and growth potential — for credit unions today.
This FICO report, the second in our series, continues our exploration of the generational differences to help credit unions stay competitive. Based on the results of a recent survey, this report highlights the rise of alternative financial services such as mobile payment and peer-to-peer lending, and also examines consumer preferences for communicating with banks across multiple digital channels.
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