Investments in digital banking are paying dividends for credit unions by improving membership and creating more efficient services. However, digitizing services often comes at the cost of a personal touch, says Allison Videtti, director of marketing for digital-first Alliant Credit Union. In the latest Credit...
Credit unions (CUs) are facing an ever-shifting financial services landscape. Advanced technology is increasingly raising the stakes of how CUs should operate, with members coming to expect the instant payments and slick mobile interfaces that large banks and FinTechs have made standard. CUs are facing...
The market share of credit unions is only a fraction of their larger bank counterparts, but they tend to inspire a greater sense of loyalty among customers. Data from PYMNTS’ Credit Union Innovation Index found that 60.8 percent of members would not leave their credit...
While financial technology continues to grow more sophisticated, many of these innovations are used solely by the large banks and FIs that can afford it. CUs looking to compete will have to play to their strengths, by engaging members with advanced learning tools and using...
While all financial institutions (FIs) operate on customer relationships, trust and loyalty can play a larger role for credit unions. According to PYMNTS’ Credit Union Innovation Index, 65 percent of credit union members said they chose a credit union (CU) as their primary because they...
Among the most exciting trends of the last two decades is the evolution of payments from a focus on transactions to a strategic driver of revenue and growth. Among the most important questions to arise from that general trend is what credit unions must do...
One of the largest factors that sets credit unions (CUs) apart from large banks and FinTech providers is their emphasis on member relations. According to PYMNTS’ Credit Union Innovation Index, 65% of CU members said they chose a CU as their primary financial institution (FI)...
These days, return on investment (ROI) is measured in more than dollars and cents. That’s especially true for FIs investing in innovative products and services. PSCU’s Brian Scott, senior vice president and chief growth officer, tells PYMNTS that for credit unions, it’s important to offer flexible...
Pot is legal across several states, illegal nationwide, and cash still dominates transactions. But might CUs offer a salve for at least (some) banking needs? Separately, Apple gains scrutiny in Russia, and blockchain gets some runway from regulators in South Korea.
