When you think of a credit union (CU), it’s easy to picture a place that values member relations and face-to-face banking. While this business model has typically worked to the advantage of CUs, it can also leave some of these institutions ill-prepared for the COVID-fueled...
It’s tough to boil down a massive, 12-month-long digital pivot that transformed the credit union (CU) landscape into one word. A few words, however, will suffice, as offered by PSCU CEO Chuck Fagan: Personalization. Acceleration. Speed. As he told PYMNTS’ Karen Webster in an interview,...
PSCU has announced that it will be working with Tarrant County’s Credit Union (TCCU) to provide debit and credit card processing services and support, according to a press release emailed to PYMNTS. “Like PSCU, it is clear that TCCU puts member experience at the heart...
Credit unions saw more than 4.4 million people join their ranks between August 2020 and August 2021, according to a recent report by the Credit Union National Association (CUNA). CUNA says this figure surpassed the 4.1 million new members from the previous year, bringing the...
Two months after being placed into a conservatorship, the Pomona Postal Federal Credit Union of Pomona, California, has merged with another credit union (CU). The National Credit Union Administration (NCUA) announced the merger Monday (Jan. 3), saying the Pomona CU had merged into the Anaheim-based...
Credit unions (CUs) have been known historically for their member-first mentality and intimate face-to-face banking model. This business structure has worked in their favor, but it also has left some CUs less prepared for the pandemic-driven shift to digital-first banking and its associated risks —...
Credit unions are fast-tracking the launch of the digital services members want, but rising fraud rates mean they can’t sacrifice security for added digital conveniences. In the Credit Union Tracker, Mountain America Credit Union’s Kelly Albiston explains how artificial intelligence (AI) is helping CUs minimize...
With so many consumers converting from in-person transactions to online channels throughout 2020, new opportunities arose for fraudsters to take advantage of the evolving conditions. As a result, the Federal Trade Commission (FTC) collected more than 1.3 million fraud reports between Q1 and Q3 of...
The pandemic has spotlighted a key urgency for financial institutions (FIs) of all types: investigating and investing in the connection between human and digital engagement while remaining focused on members’ financial wellness. CO-OP Financial Services Senior Vice President of Client Relationships Tiffany Doty told PYMNTS...