Millennial Research

Are rewards a switching motivator for Millennials?

With national and regional banks holding the lion's share of deposits, understanding what consumers — especially Millennials — look for and how likely they are to consider a community bank or credit union is crucial to winning back market share. There's no mistake about what consumers look for: rewards. But will they find them with you or at the big bank down the street?

Millennials are looking for products with rewards such as cash back, high yields, and refunds on ATM withdrawals. What if you could offer rewards that consumers want, and simultaneously drive account activities that drive profit for your institution?

"What motivates Millennials to switch financial institutions?"

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