Every year, nearly 2.8 million students enroll in college for the first time, and many arrive with bank accounts tied to their hometowns. For on-campus credit unions, that’s a problematic trend, says Eric Bangerter, VP of eCommerce at University of Wisconsin Credit Union. In this...
Cybersecurity is more important than ever for credit unions (CUs), but keeping up with compliance and the latest best practices can be a challenge. Smaller CUs don’t always have the resources to easily handle all their security needs on their own. Meanwhile, the customer-is-always-right philosophies...
In some ways, the average credit union customer is very much like the average customer of any financial institution. They want to know their money is secure, they want to have a positive experience whether they are online or talking to a teller, and when...
If there’s one lesson that credit union (CU) members took away from the 35-day government shutdown earlier this year, it’s that cooperative institutions have their members’ backs. During that time of considerable financial uncertainty, CUs stepped forward to help affected federal workers who were either...
Major data breaches put consumers on edge in 2018, bolstering concerns about their financial information’s security. In fact, 53 percent of those in the U.S. reported being “very” or “extremely” concerned that their personal data had been exposed by a breach, as digital identity...
During the 35-day U.S. government shutdown, federal credit unions had thousands of members without paychecks, with no end in sight. Ricardo Chamorro, EVP at D.C. area-based PenFed Credit Union, tells PYMNTS that keeping its affected members afloat meant applying lessons learned from weathering more than...
From cannabis legalization to the federal shutdown, government actions are reshaping financial circumstances for consumers and businesses alike. In the March “Credit Union Tracker™,” PYMNTS explores how credit unions (CUs) and credit union service organizations (CUSOs) are working to cater to the unique financial needs of their...
Credit unions have spent decades cementing loyalty among consumers, so much so that a majority of consumers wouldn’t switch for another type of financial institution. However, in the age of FinTech upstarts, CU execs should beware complacency. In the latest Data Drivers, PSCU CEO Chuck Fagan...
Credit union (CU) customers are more than just customers: They are members of a wider community. This sense of belonging and inclusion is precisely why consumers gravitate toward CUs. In fact, 65 percent of CU members choose to bank with their respective CUs because they...
