Consumers are feeling the impact of high inflation. Prices in October were 7.7% higher than the year before, and though prices have dropped somewhat in recent months, inflation remains well above the Federal Reserve’s desired level of 2%. Worryingly, 77% of fund managers believe a...
As consumers seek new connected financial experiences, more are turning to their local credit union for answers. Few organizations are as well positioned as credit unions for creating connected financial experiences. This comes from decades of cultivating one-to-one relationships with members in ways that banks...
Credit unions (CUs) have historically provided excellent personal service, and they’re doing better with data. According to Jeremiah Lotz, managing vice president of digital and data at PSCU, it’s not just better data; it’s smarter data that’s helping these niche institutions boost loyalty. “Intelligent data...
Credit unions have a secret weapon that some financial institutions (FIs) may struggle to attain: member satisfaction. CU members have higher-than-average member satisfaction rates, and of those satisfied members, 6% said convenience and ease of use of online banking capabilities are the top reasons they are satisfied and 5% cited...
Subscription Simple. That’s how 85% of millennials and Gen Z consumers want their FIs to make opening bank accounts and applying for credit, says Jeff Hibbard, chief digital officer at Truliant Federal Credit Union.
The last year and a half signaled a change in course around consumers’ digital banking expectations. Most users now highly value the quality and ease of digital experiences, one United Kingdom study found, with 81% of adults saying this determines their choice of financial institution...
Yogi Berra supposedly once said: “Predictions are hard — especially about the future.” In an interview with PYMNTS, PSCU President and CEO Chuck Fagan acknowledged the challenge of knowing what’s ahead. But some trends can provide a roadmap to what’s next for financial institutions (FIs),...
Payments credit union service organization (CUSO) PSCU has named Dave Stafford to the company’s new role of executive vice president and chief transformation officer. In addition, the firm has appointed Stephen Summers chief information officer, taking over the role previously held by Stafford, PSCU said...
Personalization has become the watchword in financial services today. A 2021 PSCU consumer survey found that nearly eight in 10 respondents prefer working with a financial institution (FI) that knows them on a personal level — a relationship that appropriate data usage can facilitate. This...
