What's In Our Wallet?

An informal office poll attempts to identify differences in attitudes on paper payments.


Today’s young adults are forcing all industries to take a close look at how they serve customers and hire employees. The area of financial services is no different. That’s why Callahan launched "My Generation" in the first place — as a platform for young writers with little to no experience in financial services to explore how the world is changing and how it looks from a new set of eyes.

My Generation occasionally turns the lens on the individual people who power Callahan, its employees, to discover how they bank online, buy houses, volunteer, hold two jobs, figure out finances, and more. 

This summer, though, Callahan polled 23 current and former employees of all ages to learn more about their attitudes toward cash. Do the millennials and Gen Zs carry cash? Do they know what cash looks like? Do our Gen Xs and Boomers live at the ATM? Do they know that "Venmo" is a verb now?

The results here, split into groups for employees 22-32 years old and 33-61 years old, explore a range of topics, from cash usage and payment preference to mobile wallets and security concerns. Readers are cautioned against extrapolating these results to all people in a given age range. This survey was created to learn more about Callahan's employees. To learn more about members' wants, needs, and habits, credit unions must ask them. In that regard, let this survey serve to guide your questioning.

*If an age group is missing, it’s because no respondents reported using the service described.

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Aug. 29, 2018


  • Thank you for these interesting statistics! Even though this poll used a small sample size, it’s valuable to look at how different age groups prefer to pay for goods and handle financial transactions. Looking at the data collected, we find it interesting that the mobile wallet had made a small impact on the employees’ everyday purchases. Mobile wallet transitions seemed to be the next thing that would take off in banking a few years ago as many companies (including apple) adapted and pushed the feature on their products. It is interesting to see that is may not be the case.