7-minute video
Financial stress is pervasive in the United States. Even more troubling, financial trauma is experienced by nearly 25% of Americans, even higher at 36% among Millennials. Guilt, shame and the lack of financial literacy and acumen perpetuate bad habits. Stigma keeps people silent and hobbles hope of establishing a healthy relationship with their money. What is the role of financial institutions in this and how can they help?
The millennial business owner market is growing, and many feel their banks only partially fulfill their needs. Unfortunately, many bank marketers still fall back on promoting mobile banking, checking and loans and stop there. But millennials need more than the standard banking services.
8-minute video
The conversation is everywhere: quiet quitting, quiet firing, the Great Resignation and "how can I find great talent?" The antidote to this pain is a strong employer brand. But financial organizations are notoriously bad at establishing their internal brand. "Great benefits and great place to work" are not an employer brand; they are the price of entry.
There are countless personal finance movements that have evolved since the pandemic and many of them are picking up steam with millennials. One of these is FIWOOT, which stands for Financial Independence, Work On Own Terms. Banks and credit unions can be valuable partners by helping guide customers who seek the FIWOOT lifestyle.
In the current economy, jobs and choices are plentiful. Movements like “the great resignation” and ”quiet quitting” are getting lots of attention. Ultimately, these—and other trends to come—are about personal satisfaction and rewarding work.
