When catering to a limited group of members, credit unions need to think carefully about how to address member needs. That’s why some credit unions are embracing the market’s “mom and pop” legacy and emphasizing their ability to offer the type of personalized member services...
The best offense is a good defense. It’s true in sports, and also true in disaster preparedness. Simply reacting is often too little, too late. When conditions are bad enough, it may not even be possible. Natural disasters like recent hurricanes Harvey and Irma that...
How can older credit unions keep up with younger, sexier FinTechs? In the latest PYMNTS Credit Union Tracker™, powered by CO-OP Financial Services, Doug Marshall, senior VP of digital channels at The Boeing Employees Credit Union, explains why the financial institution, in business since the...
They’re generations apart, but can older credit unions (CUs) and newer FinTechs get along? Based on recent activity, it would appear so. Older CUs from all corners of the space are increasingly turning to newer, more disruptive FinTech partners to increase their member pools and...
Sharing has its rewards. Not just in life, but in payments and for credit unions, too. Consider the shared branching model, which has been taking shape for years and recently passed a milestone of scale. As noted in early August, CO-OP Financial Services’ CO-OP Shared Branching...
As the saying goes, no risk no reward. For the credit union market, the message is clear in terms of innovation: Put on your wingsuit and take a chance or risk getting stuck on stodgy. For August’s PYMNTS Credit Union Tracker™, powered by CO-OP Financial...
Credit unions are risk-averse institutions by nature. But if credit unions don’t take a gamble on new financial innovations, they are inadvertently taking on another type of risk altogether: Being considered financially irrelevant by members and alienating potential new customers. Some credit unions are pushing...
Let’s give credit unions, yes, the credit they deserve. Take membership, for instance, which recently reached 108 million, a sign the market is enjoying a boom. For the latest market developments, PYMNTS.com introduces the Credit Union Tracker™, powered by CO-OP Financial Services, a monthly report that follows notable innovations,...
Is the credit union market ready for its close-up? It’s a market that is showing clear signs of growth. In fact, the federally backed National Credit Union Administration (NCUA) reported credit union membership grew by 4.3 million in Q2 of this year alone, with the...
