Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The single biggest reason millennials move their checking accounts to other financial institutions is to get access to free ATMs, according to new data from marketing research company Phoenix Synergistics.

The survey of 1,000 people, conducted in July and August of 2016, found that 46% of millennials who moved their checking accounts to other institutions in the last two years said they did so for the surcharge-free ATMs. Other fees were also a factor: 44% of millennial account movers said free checking prompted a switch to a different financial institution. Life-changing events such as relocation or getting married spurred a switch for 35%.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Tina Orem


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2022 ALM Global, LLC. All Rights Reserved.