By and large, credit unions (CUs) are weathering the pandemic well, but nimble FinTechs and resourceful big banks want those loyal CU members as their own, making digital investment and service offerings a hot priority for CUs as the world moves toward an endemic economy....
As stimulus checks and tax breaks were sent out to individuals and families throughout the pandemic, consumers banked the payments. And that swelled deposits at credit unions. Denise Stevens, SVP, chief product and digital officer for PSCU, told PYMNTS CEO Karen Webster that, increasingly, CUs...
With the mainstreaming of digital products, credit unions (CUs) are under increasing pressure to launch new services in hopes of retaining members. Research by PYMNTS and PSCU finds that non-CU members are nearly twice as likely to report ease of use with their online banking...
Credit unions (CUs) have long branded themselves as having a people-oriented mission that has gained them a high place in consumers’ regard, with CUs traditionally enjoying higher satisfaction rates than other financial institutions (FIs). For the third year in a row, however, CUs have lagged...
In-person branch transactions have dropped in recent years, meaning that credit unions that do not innovate have fewer opportunities to take advantage of their longest-held strength: personalized service. In the "Credit Union Tracker," TruMark Financial Credit Union’s Elizabeth Kaspern explains how the CU uses voice-of-the-member...
FIs use smart automation to improve member experiences behind the scenes, creating more secure and efficient processes while lowering friction. In the "Digital-First Banking Tracker," Veridian Credit Union’s Brett Engstrom talks about cumulative gains from cutting seconds off transactions, algorithms that learn better ways to...
Credit unions (CUs) have trailed banks in overall consumer satisfaction for the third year in a row, reaching an all-time low in 2021. Of particular significance, the quality of CUs’ mobile apps ranked third in member satisfaction and fell from its 2020 score, while banks...
Payments credit union service organization PSCU is launching a digital consulting practice to boost digital offerings for credit unions, a press release said. This will also improve digital return on investment and bolster product use. This comes as PSCU has recently partnered with Curinos, which...
Forty percent of credit union members are “very” or “extremely” interested in real-time payments, according to the “Credit Union Innovation Playbook,” a PYMNTS and PSCU collaboration based on a survey of 4,832 U.S. consumers, 101 credit union decision-makers and 51 FinTech executives. Get the report:...
