Keeping members satisfied will require credit unions (CUs) to step up their commitment to rolling out innovative digital products and services. The issue is growing more urgent, especially as member satisfaction with CUs has dropped from 92% in 2018 to 86% in 2021. PYMNTS’ research...
Card issuer Elan has launched its Across the Country Charitable Giving program, benefiting 50 charities across the United States. The program, announced in a news release Thursday (Feb. 10), randomly selected 50 of Elan’s more than 250 credit union (CU) partners to give back to...
Amplify Credit Union announced Wednesday (Feb. 9) that it is rolling out fee-free banking, so members won’t pay fees on checking, savings and business banking accounts — including account maintenance fees, regardless of balance. The Austin, Texas-based credit union also removed fees for wire transfers...
The old financial services landscape used to be divided between the traditional financial institutions (FIs) and the FinTechs, locked in a battle for customer loyalty and wallet share. The FinTechs? They went all out to poach FIs’ members. The FIs? They were determined to use...
Talk to experts in the credit union (CU) space, and they’ll tell you most CUs are trailing their peers in the banking industry when it comes to innovations. Catching up will mean CUs making substantial digital strides — from technological investments to complete overhauls of...
It is no longer enough for credit unions (CUs) to compete with banks within the regions in which they operate. They must now be ready to go toe to toe with digitally savvy financial institutions (FIs) and FinTechs that can offer services accessible anywhere and...
Consumers often worry about the risk of fraud in the digital age, particularly as they hand sensitive information over to providers and transact more frequently than ever across digital channels. Jack Lynch, chief risk officer at PSCU, told PYMNTS that credit unions (CUs) must retool...
Credit unions are getting their FinTech mojo by using data to personalize the member experience. Clearview Federal Credit Union’s Bill Snider explains how member data is helping CUs keep the high tech/high touch balance that keeps members from looking elsewhere for banking services.
Consumers’ digital expectations have a lot of financial services providers vying for their attention, from financial institutions (FIs) to digitally-savvy neobanks and FinTechs. Credit unions (CUs) followed suit, fast-tracking digital transformations and investing in products that will help them stay competitive. A significant number of...