Credit Union Innovation Study - February 2021

The Credit Union Innovation Study, a PYMNTS and PSCU collaboration, gauges the state of credit union (CU) innovation in the United States. We surveyed a census-balanced panel of 4,817 U.S. consumers, 101 CU decision-makers and 50 FinTech executives to discover how consumers’ mounting needs for digital-first banking options are changing the types of innovations CUs are prioritizing both now and in the long term to better meet members’ needs and maintain their competitive edge.
Inside the February study:
  • 30 percent: Share of millennial credit union members who would at least consider switching primary FIs over innovation
  • 64 percent: Portion of CUs citing pandemic-related changes in consumers’ needs as a factor making it more difficult to rollout new products and services
  • 41 percent: Share of CU decision-makers who believe that partnering with credit union service organizations is critical to the innovation process

 

Credit Union Innovation Report

How CUs Can Drive Engagement with Self-Service Banking Innovation
2024 Credit Union Innovation Readiness Index
The FinTech Innovation Agenda
How Credit Union Innovation Can Drive Gen Z Engagement
Growing Credit Union Membership via Lending and Omnichannel Banking Innovation
2024 Credit Union Innovation Readiness Index - January 2024
How Credit Product Rates Impact FI Selection
Credit Union Membership and Credit Profiles
Staying Ahead Through Payments Innovation
Bridging the Cryptocurrency Divide — Why Members Want Access, Why Credit Union Executives Resist
Product Development Slowdown Tests Member Loyalty
Cryptocurrency As A Key To Member Loyalty
The Race To Meet Consumer Demand
Product Innovation As The Key To Membership Growth
Responding To Member Demands For Digital Financial Services
Credit Union Innovation Playbook
Credit Union Innovation Study - July 2021
Credit Union Innovation Playbook Touchless Payments Edition
Credit Union Innovation Playbook: Card Trends Edition
Credit Union Innovation Playbook: Microbusiness Opportunity Edition
Credit Union Innovation Playbook: Challenger Banks Edition
Credit Union Innovation Playbook: New Payment Flows Edition
Credit Union Innovation Index - March 2020
Credit Union Innovation Playbook: Loyalty Innovation Edition
Credit Union Innovation Playbook: Data Analytics Edition
Credit Union Innovation Playbook: Digital Banking Edition
Credit Union Innovation Playbook: Trust But Verify Edition
Credit Union Innovation Index: A 360 Degree Look at What's Driving Credit Union Innovation