Half of Gen Z and Gen Y customers consider switching to community bank or credit unions as their primary financial provider
76% of all customers act on personalized advice from their banks
54% of all customers expect banks to use their data for personalization
52% of Gen Z & Millennials considering a switch to community bank
47% of Gen Z & Millennials consider a credit union as an alternative
21% of customers who closed bank accounts cite poor customer service
Source: PYMNTS Intelligence, “Local Roots: How Community FIs Can Win the Digital-First Generation,” October, 2024