Young entrepreneurs with agricultural aspirations need serious capital to get a jump-start on their business ideas. In reality, it takes significant cash to buy the animals and supplies needed to get started. In this month’s Credit Union (CU) Tracker, Community First Credit Union’s Member Development...
For credit unions (CUs), offering convenient digital services is more important than ever. Nearly 79% of credit union members have said they would leave their CUs for a FinTech to get easy and convenient services. As such, CUs are seeking to step up their technological...
Digital banking is not the main element that drives consumers toward using a credit union. According to the Credit Union Innovation Playbook, a PYMNTS and PSCU collaboration, trust is the driving factor in that choice. However, as Lumin Digital President Jeff Chambers told Karen Webster...
The world of consumer banking and payments is an ever-evolving space — and most of those innovations are good things. Take something as simple online bill payments. As Denise Stevens, SVP for product delivery and innovation at PSCU, told Karen Webster in a recent conversation,...
With 57 percent of credit union members readily willing to leave for another financial institution for better data security, the rapidly growing industry is potentially at risk for mass defections. But member engagement – especially in the first 30 days of joining – can convince...
Credit unions (CUs) are a popular alternative to traditional banks, with 5,613 CUs in operation as of January 2019, and 195,000 new memberships added in January alone. This popularity is hard-earned — CUs face the stiff challenge of engaging customers on a daily basis to...
Like many other financial institutions (FIs), credit unions (CUs) need responsive websites and mobile apps to address their members’ needs. It’s through these channels that most members will engage with their CUs to conduct their digital banking business. As such, CUs need to ensure that their...
“You can’t teach an old dog new tricks” — so goes the dim, cynical saying. That would seem to apply to credit unions (CUs), and to Consumers Credit Union of Illinois specifically, one of the largest CUs around, which has been in business since 1930 (before the Great...
Entrepreneurs and small business owners often turn to local credit unions (CUs) for their financial needs, whether they’re renovating their offices or adding staff members. When compared to traditional banks, CUs often offer loans with lower interest rates and more flexible payment terms. These reduced...
