When consumers are picking a financial institution, digital features make a difference. In fact, 24% of credit union members would consider switching to new financial institutions over innovation, according to “Credit Union Innovation,” a PYMNTS and PSCU collaboration based on a survey of 4,832 U.S....
Moonlighting always meant having a second job on the side. In the age of connected economy payments, it’s taking on a new meaning — one that credit unions (CUs) should know about. In a PYMNTS interview, PSCU Chief Growth Officer Brian Scott discussed the challenges CUs...
PSCU, the payments credit union service organization (CUSO) has been selected by True North Federal Credit Union for its credit and debit processing work, a PSCU press release said. True North, which is based in Juneau, Alaska, has been in existence since 1948. The company...
For traditional financial institutions — particularly for relatively smaller firms, including credit unions — speed will increasingly be a determining factor in keeping retail and commercial clients in place, and in attracting new customers. Innovation, after all, is what brings the formerly brick-and-mortar incumbents further...
Credit unions (CUs) have typically held a different reputation than traditional banks and FinTech companies. Traditional banks enjoy massive resources and an institutional presence, while FinTechs represent a relatively new class of organizations that puts extra emphasis on digital capabilities. CUs — long known for...
Credit unions (CUs) are the underdog in the constant competitive battle among financial institutions (FIs). Established banks can harness far more resources, and digital-native FinTechs have a head start with innovative digital solutions that customers crave. CUs’ traditional advantage over their counterparts — member loyalty...
While decision makers in some industries may aim to keep their companies on the bleeding edge of innovation, those at credit unions are more likely to say they want to be on the leading edge. “I think most credit unions want to be a fast follower,”...
Twenty-three percent of credit union members would be willing to switch financial institutions for access to more innovative products, according to “Credit Union Innovation,” a PYMNTS and PSCU collaboration that surveyed 4,832 U.S. consumers, 101 credit union decision-makers and 51 FinTech executives. Get the report:...
When it comes to the bank versus credit union (CU) debate, it’s clear where the loyalty of younger consumers lies. A PYMNTS survey found younger consumers show a stronger preference for national banks than for CUs. There’s a bright spot here for CUs, however, as...
