With its conservative approach, rooted in the Great Depression, St. Mary’s Bank of Manchester, New Hampshire, has endured more than a century of economic challenges. In the latest PYMNTS Credit Union Tracker™, in collaboration with CO-OP Financial Services, St. Mary’s COO Ken Senus, offers insights...
The nation’s first credit union (CU) was founded in 1908 to serve mill workers in the Manchester, New Hampshire area. Today, more than a century later, that credit union is still operational and is now focused on serving a new type of member: millennials. The...
Credit unions are viewed by some as a collection of “mom and pop” banks that do business the “old-fashioned” way. It’s an image that some CUs relish, rather than shy away from. In October’s PYMNTS Credit Union Tracker™, in collaboration with CO-OP Financial Services, David...
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...
