Close to half of the credit union (CU) executives surveyed by PYMNTS earlier in the year expected credit card processing revenues to outstrip debit in 2020. Several months down the road, it’s a very different picture, as credit tightens and debit takes on an air...
Credit unions of various sizes were eager to roll out credit card innovation plans before the COVID-19 pandemic’s onset. PYMNTS’ July Credit Union Innovation Playbook: Card Trends Edition revealed that 47 percent of CU executives expected credit card processing revenues to be more robust than those for debit cards, for...
More consumers are looking to access loans during the pandemic, but some lack the credit histories needed to obtain them. Credit unions can step up, however, by relying on more than traditional-scoring metrics when making lending decisions, says Eric Levine, CEO of Alternatives Federal Credit...
Credit product innovation was on many credit unions’ (CUs’) agendas in the months before the pandemic struck. Some 47% of CU executives were expecting credit card processing revenues to surpass debit cards, according to PYMNTS’ July Credit Union Innovation Playbook: Card Trends Edition. Some 72%...
Between wildfires, hurricanes, civil unrest and an international pandemic, running a credit union (CU) in 2020 has been all about reacting to rapid, radical and sometimes unexpected shifts in members’ behavior, experts told Karen Webster in PYMNTS’ latest “On The Agenda” discussion. “As we went into...
If we take only one lesson away from 2020, it’s that disasters are going to happen. However, knowing what form those disasters will take and when they will occur is virtually impossible. A year ago, no one would have predicted that the United States would...
The idea of offering digital services was hardly new to credit unions (CUs) before the pandemic, but the outbreak provided “the why” for going all-in, Dr. Kathy Snider, senior vice president and group leader of Engage products at CO-OP Financial Services, told PYMNTS. She said...
Microbusinesses, from food trucks to housepainters, tend to be sole proprietorships pulling in $250,000 to $1 million per year top-line. In the developing world, financing microbusiness is big business, and that’s happening with the estimated 30 million U.S. microbusinesses as well. PYMNTS’ August 2020 Credit...
Credit unions are keeping microbusinesses front and center as they plan for future technological innovations. Microbusinesses usually generate just $250,000 to $1 million annually, but they are a significant force in the American economy, and large FIs, CUs and smaller community banks are vying to create services for...
