Peach State Federal Credit Union, which is headquartered in Georgia and serves more than 70,000 members in Georgia and South Carolina, chose credit union service organization (CUSO) Velera to provide it with debit and credit card processing support. Velera will begin providing the credit union...
Teachers Federal Credit Union, one of the largest U.S. credit unions with more than $9.7 billion in assets and over 460,000 members, is using artificial intelligence (AI) and automation to modernize the way it does business. The credit union has automated processes across 16 business...
For small firms, punching above their weight is key to survival. In financial services, where the global footprint of megabanks can cast a wide shadow over the operations of local lenders and credit unions (CUs), survival for smaller firms isn’t just about keeping up. Increasingly,...
Credit union service organization (CUSO) Velera appointed five continuing board members to its executive committee that helps guide the CUSO’s direction. The members of the committee are executives of credit unions of all sizes, from across the United States, Velera said in a Tuesday (May...
The battle for the small and medium-sized business (SMB) share of wallet is heating up. While larger national and regional banks often leverage vast resources and extensive product suites, credit unions (CUs) possess unique strengths that position them as powerful contenders, particularly in specific segments...
Financial innovation is often seen as the domain of billion-dollar institutions, but the latest data reveals a surprising shakeup: The smallest credit unions are catching up — and in some areas, even outpacing — their larger counterparts. It turns out that small does not mean...
Credit unions tend to evoke images of simple, brick-and-mortar institutions, where friendly employees who know you by name make up for the lack of financial bells and whistles at big banks. That almost quaint perception is rapidly becoming outdated. America’s smallest financial institutions are innovating...
The federal credit union tax exemption was preserved during the markup of a tax reconciliation bill in the House Ways and Means Committee. The legislation passed the committee on a 26-19 vote along party lines and now moves to the House Budget Committee where it...
Understanding the evolving dynamics of this relationship is paramount for credit union executives and FinTech entrepreneurs alike. While the share of FinTechs selling consumer-facing and back-end digital banking technologies to CUs has remained stable for the past four years, recent PYMNTS Intelligence data reveals stark...