Data is where it’s at, and more credit unions (CUs) are waking up to the fact that without sophisticated analysis of customer data, they risk being left behind as financial institutions continue to adopt innovative digital technologies to please the modern consumer. The proper use...
Credit unions (CUs) often have deep relationships with their customers, but they don't often have primary financial institution status with them. CO-OP Financial Services President and CEO Todd Clark tells Karen Webster that it’s because of their service offerings – particularly around payments. CUs can't...
Customers weigh various factors when selecting their financial institutions (FIs). A recent study conducted by financial services provider Kasasa and The Harris Poll found approximately 84 percent of Americans determine the products and services they desire first, then search for banks or CUs that offer...
Consumers’ lives are becoming more digitally focused, which means it’s natural and expected that credit unions (CUs) are feeling the pressure to raise the level of their services across channels. This fact is borne by data in the latest edition of the Credit Union Tracker,...
Whether they're approving loan applications or targeting products and services, CUs are increasingly relying on data analytics to help with everyday decisions. But looking at financial data alone doesn’t always paint the full picture, says Tony Hildesheim, chief information officer of Redwood Credit Union. In...
Tried-and-true credit unions (CUs) have managed to keep pace with commercial banks, FinTechs and other financial institutions. According to the new Credit Union Tracker, as of March 2019 there were an estimated 5,572 CUs in operation and in the same month 324,000 consumers joined CUs....
In the competitive financial industry, credit unions (CUs) remain popular banking options, with a recent CUNA Mutual Group report estimating that 324,000 consumers joined CUs in March 2019. To stay competitive, many CUs are turning to data analytics to improve their operations in a number...
Credit unions know digital innovations are critical to recruiting and retaining members. Developing and offering innovative services that make a difference requires more than simply designing technological tools equipped with a host of capabilities, however. It also requires that credit unions (CUs) ensure such solutions...
In the financial services industry, knowledge is power. For credit unions (CUs), data analytics can deliver that insight, helping them to more effectively address their members’ specific needs, and informing CUs of the products and services that can deliver the most effective returns on their...
