Amplify Credit Union’s Post

Do you want to get to know Generation Z better and the financial challenges they face? Download our latest segmentation study report for a deep dive ⚡

Super insightful KAE's report on Generation Z! To dispel the myths, understand the different personas and find out their different approaches to saving, debt and financial product needs - https://lnkd.in/eEKj_-Cx

Would you believe that Gen Z is 2.5 times more likely than Gen X to switch financial institutions within a year? As Gen Z enters the workforce, more credit unions are looking for ways to appeal to the younger audience. CUInsight.com dives into how credit unions are changing their strategy to appeal to the new generation. https://lnkd.in/eZ6V7bMH

What does the Great Wealth Transfer mean for the future of finance? I discuss this in my book From Hoodies to Suits: Innovating Digital Assets for Traditional Finance. Available for preorder now. #innovation #tradfi #digitalassets #ria #futureoffinance #greatwealthtransfer

Great article by Andrea Gallagher with the Federal Reserve Bank of Kansas City that brings awareness to the competitive trends and behaviors that younger generations are utilizing to satisfy their financial needs. As I prepare my last project with Graduate School of Banking at Colorado on the topic of Staying Competitive in the New Environment, I was able to find food for thought and great materials for my presentation. I am excited to find new strategies for the future of banking that will bring suitable solutions for everyone, including new generations! #finance #banking #communitybanks #financialservices #futureoffinance

Bankers, do you want to know what your Customers are thinking, how they are feeling? Check out these Data Points! Doing research by Generation should be easy, so what are you going to do with this data? #actionabledata https://lnkd.in/ecUUGAJW

"Millennials and Gen Zs were most likely to have increased their savings month-over-month during the quarter (6 in 10) while half of Gen Xers and Boomers did so. However, the study revealed that those with lower levels of financial knowledge were less likely to be saving their money in high interest savings accounts." #savings #debt #chapter13 #bankruptcy #finances #financialliteracy #householdbudgets #highinterestsavings

Did you know that Gen Z are more likely to experience “money dysmorphia” compared to other generations? A new study by Qualtrics and Credit Karma showed that 43% of Gen Z have a distorted view of their finances and are more likely to feel financially behind their peers and struggle with financial insecurity. Data from our research with Oliver Wyman Forum supports this. Compared to older generations, Gen Z are 52% more likely to worry about their financial security and stability and nearly 1.5 times more likely to say that they are stressed out by money. Read more in The Independent: https://lnkd.in/eVUVkH3N #GenZ #finance #money

Americans are poised for a “resolution revolution” as they look to improve their financial lives by conquering their goals in 2024. What’s their biggest challenge to overcome? Fidelity’s 15th annual Financial Resolutions study finds 54% of Americans admit to feeling overwhelmed by their personal finances, yet 70% say they have a plan in place for the new year, potentially paving the way for a steady and secure new year. More in the full study:

Gen Z consumers starting their financial journeys face challenges other generations didn’t, which is prompting questionable habits. Using TransUnion research and interviews, The Financial Brand reveals how those habits present risks — and rewards — for financial institutions ready to tackle Zoomers’ needs. Check it out: https://gag.gl/zhJaFf