The Millennial Vote

Most UK millennials voted for to remain in the European Union and most US millennials voted for Hillary Clinton. Nationalism, economics, and passion against immigration and loss of traditional culture where a major part of the discussion in the UK referendum and the US election. Why do you think that more millennials voted against Brexit and Trump? What does this say about how millennials perceive the future?


Take A Closer Look



The Best Banking Options For Millennials

When Scratch surveyed over 10,000 millennials, they found four of the top ten hated brands are all banks. The term ‘millennials’ refers to anyone born between 1981 and 2000, and it is this group of tech savvy, futuristic individuals that see a very different future for the world of banking.

Our attitude towards banking comes from everything our generation has seen over the years, leading to the conclusion: big banks and other large institutions can’t be trusted. We have seen them lie, contribute to the housing bubble, and charge sneaky fees to hardworking, loyal customers. We have also seen that they won’t always face the consequences for their actions.

One third of millennials believe people will be able to live bank-free sometime in the future. Sounds nice in theory, but we are not yet there. So how can you —a smart, financially knowledgeable millennial— find a bank that doesn’t make your skin crawl on the regular?

Banking With The Most Hated Banks Of All

The ten most hated companies by millennials include four of the biggest banks. That doesn’t mean our entire generation avoids Wells Fargo and Bank of America entirely. Many millennials remain members at the very banks they detest. This is partly because the biggest banks offer convenience and more advanced mobile banking options.

According to app store reviews, Capital One has the highest rated mobile banking app, followed by Wells Fargo, ID Bank, and then US Bank. Big banks have even bigger budgets, but mobile banking apps are still far from perfect. For one, scanning a check through your phone isn’t as easy as it should be (although Bank of America has this feature down much better than Wells Fargo!).

Yet none of this matters if you’re sick of supporting what our generation sees as Big Banks. They still remain big, but there are simply too many other options.

Switching To A Credit Union

Millennials are 80+ million strong in the US alone, meaning we carry a lot of power. Due to millennials’ distaste for big banks, many financial analysts predict credit union banking will continue to grow in popularity. A Credit Union is not publicly traded on the stock market, so unlike big banks they are not solely set on pleasing market investors. On the contrary, credit unions are all about pleasing their customers, the real shareholders.

It’s not as difficult to become a member at a credit union anymore either. Many simply require you live in the area. Credit unions don’t have as many convenient locations, but most now offer mobile banking apps. According to overall app ratings, the very best credit union mobile banking app is offered by Eastman Credit Union, followed by ESL Credit Union, Redstone Federal, SEFCU, and VyStar.

Conduct a quick search in the app store on your local credit union(s) to see if they offer a mobile banking app, as well as what type of rating it gets.

What About Internet Banking?

When is the last time you actually walked into your bank? Bank branches are far less crowded than they once were, most millennials don’t enter the bank unless they absolutely have to. What’s the point anyway when you can use mobile banking, drive-through ATMs and customer service phone lines? For this reason many people are switching to Internet banking, a banking institution that has no store front at all.

Internet banks offer a number of ways for you to access cash and use your account, through apps, telephone, snail mail, and ATMs. But because there isn’t a physical store to pay for, internet banks are able to offer better rates and fewer fees.

According to user ratings and honorable mentions by trusted sources such as CNNMoney,, and, the best of the best in regards to Internet banking include: Ally Bank, ING Direct, PerkStreet, Connexus Credit Union, and Bank of Internet USA (Bofi).

If you feel a twist of hate for the institution that currently houses your money, you can find other options. It is this plethora of options coupled with millennials’ desire to explore those options that will help this generation shape the banking industry.

Preparing for the Millennial Apex

Are Millennials ready for the world? Countless articles have asked this question, but this is the wrong question. Millennials will have more spending power than any other generation by 2018. They are diverse, tech-savvy, and aspirational. Primary information sources for this generation are social media and word of mouth. Milennials want to be entertained by brands and they lack faith in traditional institutions. These facts beg the question: is the world ready for the rise of the Millennial generation?

Demographics – Diverse, Educated, Indebted

Millennials were born between 1980 – 2000. They are highly diverse and very well-educated. They heard “go to college if you don’t want to flip burgers.” This generation is on the tail end of a steep rise in education costs. That is to say, millennials carry a lot of student loan debt. They have experienced 9/11, decades of war, Hurricane Katrina, the financial crises, the Great Recession, and the ensuing slow recovery. The financial slump couldn’t have come at a worse time for them. New graduates entered an employer’s market where temporary was the new permanent and a Bachelor’s degree was the new High School diploma.

Pscyhographics – Aspirational, Tech-Savvy, Lacking Trust

Millennials are both high tech and high touch. They have less faith in religious and political institutions.  It extends to the private sector, too: 71 percent of Millennials would rather go to the dentist than step into a bank branch. As many one-third of millennials are willing to switch banks in the next 90 days. What would encourage them to join your organization or become a customer?

Engaging Millennials  – Use Technology to Inform and Entertain

Brands that entertain millennials do better at engaging a millennial audience. They will spread the word about brands that they love. In fact, this generation is extremely social, tech-savvy, and influential. If your organization or business is not engaging digitally with millennials, than you simply are not engaging millennials. This generation is mostly leaderless. The Arab Spring, Occupy Wall Street, Occupy Hong Kong and the Black Lives Matter protests did not have a single leader. Yet, social media was a sounding board and an organizing platform for activism.

Millennials are not just rising, they will begin to take the helm in business, politics, education and other institutions. We need to stop asking if Millennials can adapt to the real world. Millennials are the future, and the future is now.