Consumers want rewards.
However, only 10% of community bank customers and 16% of credit union members earn checking account rewards. That’s in contrast to 26% of megabank customers and 20% of regional bank customers. Faced with strong competition for Millennials from advanced digital banking experiences, revenue-generation challenges, and the inability to meet consumers’ desire for debit card rewards, community-based financial institutions must find different strategies to compete.
Here's what you'll learn.
Why Millennials remain with Megabanks even though small and mid-size banks and credit unions have higher levels of trust.
If you can’t compete on digital experience, what can you do to win over Millennials?
What value-added services will encourage Millennials to sign up for checking accounts with small to mid-size banks and credit unions.
Download your copy of the white paper today.
Reinventing Checking Accounts
For more background on why consumers are willing to pay for value when it comes to banking products, download the first free white paper in this series, Reinventing Checking Accounts, by Ron Shevlin, Director of Research at Cornerstone Advisors that is loaded with more insights.