For credit unions, helping consumers achieve financial wellness will be top-of-mind in 2023. But as Yvonne Stelpflug, senior vice president of Advisors Plus Consulting at PSCU, told PYMNTS, CUs will need to grapple with any number of challenges of their own as they seek to help...
With lending rates climbing, credit unions are continuing to offer more affordable auto loans. As The Wall Street Journal reported Tuesday (Dec. 27), credit unions (CUs) charged an average interest rate of 5.94% for used cars in the third quarter, compared to the 8.36% rate...
By all accounts, American consumers are feeling the economic strain. More than half of Americans earning less than $50,000 annually are now living paycheck to paycheck, and even 36% of the highest earners — those making more than $100,000 a year — now fall into...
Robert Cashman, president and CEO at Metro Credit Union, tells PYMNTS how credit unions (CUs) can be a port in a storm for members hurting under current economic conditions. — Despite positive economic signs, consumers are still feeling the pain. With talk of a future...
Consumers are feeling the impact of high inflation. Prices in October were 7.7% higher than the year before, and though prices have dropped somewhat in recent months, inflation remains well above the Federal Reserve’s desired level of 2%. Worryingly, 77% of fund managers believe a...
As consumers seek new connected financial experiences, more are turning to their local credit union for answers. Few organizations are as well positioned as credit unions for creating connected financial experiences. This comes from decades of cultivating one-to-one relationships with members in ways that banks...
Credit unions (CUs) have historically provided excellent personal service, and they’re doing better with data. According to Jeremiah Lotz, managing vice president of digital and data at PSCU, it’s not just better data; it’s smarter data that’s helping these niche institutions boost loyalty. “Intelligent data...
Credit unions have a secret weapon that some financial institutions (FIs) may struggle to attain: member satisfaction. CU members have higher-than-average member satisfaction rates, and of those satisfied members, 6% said convenience and ease of use of online banking capabilities are the top reasons they are satisfied and 5% cited...
Subscription Simple. That’s how 85% of millennials and Gen Z consumers want their FIs to make opening bank accounts and applying for credit, says Jeff Hibbard, chief digital officer at Truliant Federal Credit Union.
