The year 2020 is no different in this regard, except for the fact that every single person saying it this time around absolutely means it — and is being 100 percent accurate in the description. But as Todd Clark, CEO of CO-OP Financial Services, told...
Like their cousins in banking, credit unions (CUs) long enjoyed a relaxed pace of technological change. It was all on their timetable. Consumers waited on financial institutions (FIs) to innovate in an odd relationship that put business needs before customers’ needs. Not anymore. Customers are...
The ongoing pandemic has forced credit unions to pivot toward digital processes as members and businesses alike tackle more of their banking-related activities remotely. Many CUs found themselves quickly shifting to new solutions and operating procedures to accommodate branch closures or social distancing mandates, and the strategies they have developed to cope...
Credit unions’ digital shifts will continue in the new year, but physical branches should still factor into CUs' future plans, says Nancy McNeill, senior vice president of Operations at Coast Capital Savings Federal Credit Union. In the Credit Union Tracker, McNeill highlights how CUs can...
Consumers, businesses and financial institutions (FIs) cannot wait to bid adieu to 2020, which has been one of the most trying years in recent memory. The pandemic has cost more than 300,000 lives in the United States alone, and it has also challenged many institutions...
A year like no other draws to a weary close. In a year marked by unpredictable events, high unemployment, business closures and, of course, a global pandemic, the U.S. consumer is still standing — but how they pay has changed with the times, both out...
ESL Federal Credit Union, through a team effort with other organizations, has gone live with real-time payments on the RTP network. ESL has more than 374,000 members and 11,400 businesses as customers. The financial institution (FI) said that RTP, developed by The Clearing House (TCH),...
The pandemic has brought seismic changes to the way credit unions interact with their members. Digital transformation is among the most noticeable changes, but it doesn’t herald the end of the brick-and-mortar experience, Brian Scott, senior vice president and chief growth officer at PSCU, told PYMNTS...
PSCU, a payments credit union service organization (CUSO), has rolled out its Digital Issuance solution in an effort to keep bolstering the credit union (CU) member experience, according to a Thursday (Dec. 10) announcement. The offering, which is now available to owner CUs, provides continuous...