06-15-12 Millennials who switched banks during the past year are more likely to cite more convenient branch locations (31%) over more access to ATMs (28%) or better online services (27%) as their primary motivation for doing so, according to Mintel.
This generation is more likely than older generations to be interested in acquiring life insurance, annuities, stocks, and mutual funds. More than one in three (38%) are concerned about paying off existing student loans and 35% expect to provide at least some financial support to their parents during retirement.
More than half of Millennials (55%) expect their household’s financial situation to improve in the next 12 months.
Source: Mintel, Jennifer Ballard, 351 W. Hubbard St., 8th Fl., Chicago, IL 60654; 312-932-0400; jballard@mintel.com; www.mintel.com.
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