While the European Union (EU) is embracing crypto, credit union (CU) executives largely aren’t. This, as data in the April 2023 PYMNTS report, “Credit Union Innovation: Bridging the Cryptocurrency Divide,” a collaboration with PSCU, finds that more than half of credit union leaders (56%) say...
For credit unions, trust has been the glue binding financial institutions and their financial services together. But as Brian Scott, chief growth officer at PSCU, told PYMNTS, “Trust is one of those things that you earn every single day — and it takes only one...
Nearly one-third of United States consumers own cryptocurrency, and consumers who own crypto consider it when making various financial decisions. For example, 45% of crypto owners keep accounts with financial institutions (FIs) that offer crypto products. Our data show that cryptocurrency’s appeal to these consumers...
Lending marketplace Union Credit and TransUnion have joined forces to help serve credit union customers. Union Credit helps credit unions (CUs) find new and credit-worthy members from outside their customer base, according to a Thursday (April 6) news release announcing the partnership. “Partnering with TransUnion...
As the media, FinTechs and the banking sector reel from high-profile bank meltdowns, it’s shining a light on the credit union and community banking sectors, and how some companies are working with these financial institutions (FIs) to create value for customers in novel ways. In...
As consumers grow more dependent on seamless self-service and the flexibility of eCommerce, they expect their financial institutions (FIs) to deliver the same kinds of convenient banking innovations they experience when shopping. Fully integrated and mobile-centric functionality is central to this type of consumer journey, which requires credit unions (CUs)...
With just one in 10 FIs offering omnichannel account opening, CUs have an opportunity to gain ground in 2023, but they must take a page out of Big Tech’s playbook on leveraging data to personalize service, PSCU’s Brian Scott explained.
Evolving consumer preferences, accelerating digital adoption and a challenging economy have kept financial services providers on their toes in 2023. Consumers maintain a similar posture, with 51% interested in financial advice, according to a recent study. Credit union members are especially interested in innovative products,...
Not too long ago, Main Street America did not know Silicon Valley Bank existed. But now they’ve watched a series of bank runs in real time. Conventional wisdom holds that depositors will pull their money from regional and smaller banks — credit unions among them...
