Credit Union Membership and Credit Profiles

Two-Thirds of CUs Take Risky Approach to Digital Innovation Digital banking experiences are table stakes for CUs, but 64% of CU executives adopt innovations only after competitors prove they are successful, putting them at a disadvantage. PYMNTS’ latest study of 4,097 consumers and 100 CU executives, “Credit Union Innovation: Credit Union Membership and Credit Profiles,” a collaboration with PSCU, reveals the disconnect between the innovations consumers want and what CUs provide.
Inside the June Report
  • 28%: Portion of CU members willing to switch FIs for more innovative experiences
  • 64%: Share of CUs taking wait-and-see approach to innovation
  • 89%: Portion of CU executives who cite operational challenges as key obstacles impacting their innovation agendas

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