The new year is only a few weeks old. Many of us have set new financial goals as inflation injects uncertainty into daily life. The trick, of course, is how to get there, and many of us can use a helping hand. Doug Brown, president...
Loyalty’s a fickle thing, and credit union members’ allegiances may be tested over innovation. The latest edition of joint research between PYMNTS and PSCU, as detailed in the Credit Union Innovation playbook, shows that technological advances are a key competitive advantage for forward-thinking FIs. But...
Offering new consumer-facing loan tools to digital-savvy customers doesn’t have to burst budgets. Credit unions have a long-standing reputation for being customer-centric but are caught in the middle when it comes to offering the digital innovations today’s banking customers demand between their larger and smaller...
Credit unions are hitting an innovation wall, and partnering may be the best way to clear it. At a time when consumers, and credit union (CU) members particularly, are seeking more product innovation from these financial institutions, budget constraints and a yearlong macroeconomic beating find...
Sixty-four percent of all credit union (CU) members want their primary financial institutions (FIs) to offer more payment capabilities. Many — a record-setting share within our research — are willing to go as far as switching to find more innovative products. This widespread search for...
For credit unions, helping consumers achieve financial wellness will be top-of-mind in 2023. But as Yvonne Stelpflug, senior vice president of Advisors Plus Consulting at PSCU, told PYMNTS, CUs will need to grapple with any number of challenges of their own as they seek to help...
With lending rates climbing, credit unions are continuing to offer more affordable auto loans. As The Wall Street Journal reported Tuesday (Dec. 27), credit unions (CUs) charged an average interest rate of 5.94% for used cars in the third quarter, compared to the 8.36% rate...
By all accounts, American consumers are feeling the economic strain. More than half of Americans earning less than $50,000 annually are now living paycheck to paycheck, and even 36% of the highest earners — those making more than $100,000 a year — now fall into...
Robert Cashman, president and CEO at Metro Credit Union, tells PYMNTS how credit unions (CUs) can be a port in a storm for members hurting under current economic conditions. — Despite positive economic signs, consumers are still feeling the pain. With talk of a future...
