Four Reasons Why Millennials Can (& SHOULD) Trust Credit Unions

First thing you’re probably wondering is what the heck is a millennial?  That’s an easy answer – anyone born between 1980 and the early 2000’s.  A harder question to answer is why this group of people has such trust issues regarding their finances.  Nearly 40% of this group regularly worries about their finances, but 25% trust “no one!”* Credit unions are here to help, and here are four reasons that millennials can (and SHOULD) trust credit unions.

1. Credit Unions are nonprofit organizations.  What this means for members, including those that fall in the millennial category is that any profits made off of credit union’s financial products is reinvested into the credit union, NOT put in the pocket of a select group of shareholders.
2. Credit Unions want to educate members, not take advantage.  It truly is in the best interest of the credit union to have members that are confident with their finances and educated on how to manage their money.  More financial confidence and stability means less defaulted loans and lower interest rates for the members!
3. Credit Unions provide members the tools to succeed.  On the same note as educating members, credit unions not only talk the talk, but give members the tools they need to succeed.  Contrary to some beliefs, credit unions have many tech-savvy tools to help members manager their money and feel more confident with their financial plan in whatever way suits them best.  From the mobile app to mobile deposit capture, there are many way that millennials can keep tabs on their finances and still keep up with their busy demanding lives.
4. So many millennials don’t think they even are eligible to join a credit union, like it’s a special club that they haven’t been invited to.  This could not be more wrong, especially at Honor!  Anyone in the great State of Michigan, no matter their age can become an Honor Credit Union member!

Don’t forget to follow us on twitter @honorcu and let us know what you want to hear about next week using #askhonorcu! 

Listen to 97.5 Y-Country's Wild Bill and Honor's Scott talk more about millennials and why they should trust credit unions on Mason Jar Monday!

*Source - http://www.cuna.org/WebAssets/Pages/newsnowarticle.aspx?id=27917295025&blogid=448&utm_source=real_magnet&utm_medium=Email&utm_campaign=CUNA_NN%20-%20%2314615577-1