Millennials who carry debt owe an average of $27,900, according to a recent issue of CUtoday — a much bigger debt load than their parents had at their age, with liabilities accounting for 44% of assets. They have smaller savings accounts than prior generations, have invested less, and are less likely to own a home.

While high unemployment caused by the novel public health crisis is affecting every age group, millennials are among the most financially vulnerable. They entered this uncertain period with significant obligations and fewer resources.

Millennials also make up a majority of workers in some of the hardest-hit industries, such as hospitality, restaurant, retail, and contractual jobs. A recent report in Data for Progress also found 52% of people under the age of 45 have lost a job, been put on leave, or had hours reduced due to the pandemic, compared with 26% of people over age 45.

CEFCU is here to help with many resources, including:

If you’ve been specifically impacted by COVID-19, check out our updates at for additional assistance. We’re here for you!