It was once assumed that bank customers would bring their children on board to become lifelong customers themselves, but a new study indicates that this assumption is no longer valid. Less than half of Gen Z and millennials surveyed used the same financial institutions (FIs) as...
In the "Credit Union Tracker®," Canvas Credit Union’s Damian Jakubczyk explains how in-branch member service must be maintained while also pivoting to offer personalized digital offerings, too, in order to acquire and retain a new generation of banking consumers.
Younger banking consumers have many more choices today when it comes to conducting their financial business, and any financial institution (FI) looking to stay relevant with these generations must be prepared to be more than just their parents’ bank. Credit unions that once could rely...
Fight or flight. The classic conflict winds its way through all many aspects of life — even financial services. Turns out that some credit union (CU) consumers would rather vote with their feet than joust with their financial institutions (FIs) in a bid to get...
As the digital shift continues and gains momentum, more consumers will inevitably demand that their trusted financial services provider delivers more digital products and services. Indeed, about one-quarter of credit union (CU) members said they would be willing to leave their CUs for competitors if...
Credit union service organization (CUSO) PSCU has expanded its partnership with three credit unions (CUs) based in the northeast, according to a Thursday (July 14) press release. The CUs are Arrha Credit Union, CHROME Federal Credit Union and North Jersey Federal Credit Union (NJFCU), all...
Credit unions (CUs) shook off a dusty reputation to become leaders in the digital shift, and for good reason: CU members see the digital delights enjoyed by account holders at other financial institutions and will switch if CUs don’t offer the connected experiences prized by...
Credit union members are more loyal than customers at most financial institutions (FIs), but cementing that allegiance means offering innovative products and services based on new technology. While credit union members are less likely than customers of other FIs to walk if they’re not offered...
Credit unions (CUs) and financial institutions (FIs) are making more of an effort to understand how innovative technologies like cryptocurrency, blockchain and peer-to-peer (P2P) payments will change the way they deliver products and services to members and customers. CUs in particular are contending with the...