Innovative digital banking technologies, including peer-to-peer (P2P) payments, mobile wallets and instant cards, offer CUs important avenues for attracting and retaining members, particularly younger consumers. A recent PYMNTS study discovered that nearly one-quarter of credit union (CU) members would consider switching financial institutions (FIs) to...
Mobile deposit features and real-time mortgage funding may satisfy digital-first credit union members, but a slew of back-end systems is required to keep these innovations running smoothly. Amplify Credit Union’s Lisa Larson explains how automated transaction decisioning and robust card processing capabilities can help CUs...
While credit unions (CUs) continue to hold a position of primacy with older consumers, the share of millennials and bridge millennials who count themselves as members is a fraction of those in older demographics. At the same time, the share of Generation Z consumers now...
PSCU, the payments credit union service organization, has announced that OE Federal Credit Union has joined the cooperative for credit and debit processing support and services, a press release said. OE Federal, headquartered in Livermore, California, was founded in 1964. Its mission was to work...
Trust is the bedrock of all financial relationships, and it’s doubly so for credit unions (CUs). Member faith in these financial institutions (FIs) brought the sector through the pandemic splendidly, but to keep the rally going, CUs must confront new digital realities with urgency. It’s...
Credit unions (CUs) often find themselves walking a tightrope: addressing the demand for digital banking while also holding onto the value propositions and personalized services that brought their members to them in the first place. By working with FinTechs, CUs can address that mean by...
Credit union members’ satisfaction with their credit union (CU) has seen a noticeable decline. The shift has not been excessive, but the relative measurements of customer satisfaction between CUs and the financial institutions (FIs) and digital and online banks with which they compete have changed,...
Credit unions (CUs) continue to attract members based on their community involvement, cost-effectiveness and helpful staff, but current and potential members are also looking for digital banking tools and innovative financial products. In response to that growing expectation, 14% of CUs in a PYMNTS study...
Credit unions (CUs) historically have been known for their service — the tellers who know you by name and the call-center staffers who will take the time to make sure your questions are answered. As they extend their services to other channels, it can be...
