The pandemic and the slump that followed loaded fresh money worries on top of those already troubling Americans. Research from Raddon suggests steps banks and credit unions can take, as illustrated by case studies from Ally, BankMobile and ChoiceOne.

Americans faced mental perplexity over money before the COVID-19 recession, but it has steadily worsened for many over the course of the pandemic and its continuing economic effects.

While the impact has been broad, financial angst has hit younger generations harder than older ones, in general, according to Andrew Vahrenkamp, Senior Research Analyst and Program Manager at Raddon Research. Raddon has studied the financial effects of the COVID slump in “Stress and Solutions in a Pandemic Age.”

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