Tack a good mobile app onto your digital banking platform and you have all your millennial bases covered, right? If only it were that easy. Yes, millennials are highly mobile and have grown up running their lives from their smartphones. To really resonate with the millennial crowd, however, your credit union needs to understand how they think – not just about life in general, but banking in particular.

Scratch, a division of Viacom Media Networks, completed a three-year study of actual and potential industry disruption caused by millennials. While the Millennial Disruption Index spanned 15 industries, the results were most telling and most startling for banking.

The results do point to some opportunity for credit unions. For example, all four of the top U.S. banks were among the 10 brands most disliked by millennials. Also, a third of millennials were open to the idea of switching financial institutions in the next 90 days.