Once considered adversaries vying for the future of consumer banking, credit unions (CUs) and FinTechs are transforming their relationships. The PYMNTS Intelligence report “From Rivals to Partners: The Rise of Credit Union-FinTech Collaboration,” a Velera collaboration, found that this pivot is largely fueled by escalating...
In a notable shift, new research indicates that smaller credit unions are not merely catching up to their larger counterparts in technological innovation but are rapidly emerging as leaders, defying traditional expectations of size determining pace. This burgeoning momentum among community-focused institutions underscores a powerful redefinition of...
Financially stressed individuals now form the majority of credit union (CU) membership. While credit unions consistently outperform retail banks in satisfaction, trust and service, the edge diminishes for members grappling with financial instability, as PYMNTS Intelligence and Velera found in a recent Credit Union Tracker....
Watch more: Investments in Innovation, Not Macro Panic, Shape Credit Union Roadmaps It may be tempting for many financial institutions to retreat into a defensive crouch in the face of an unstable economic and regulatory climate. But for small lenders and credit unions, today’s changing...
Is your credit union innovating or just checking boxes? For credit unions, innovation isn’t a luxury; it’s a necessity. But many credit unions, especially those in the middle tier, are overestimating their progress while falling further behind top-tier competitors. This new PYMNTS Intelligence report, created...
Innovation is no longer a luxury but a defining factor for credit unions striving to thrive in the current financial ecosystem. As consumer and small to medium-sized business (SMB) expectations rapidly shift toward digital convenience and tailored experiences, credit unions face increasing pressure to modernize...
America’s Credit Unions called on Congress to reform the Dodd-Frank Act and the Consumer Financial Protection Bureau (CFPB), which was created by the act. In a Monday (July 14) letter addressed to Rep. French Hill, R-Ark., and Rep. Maxine Waters, D-Calif., the trade association said...
Nearly four in 10 Gen Z credit union members say they’re considering leaving their credit union within the next year, mostly in favor of traditional banks. That’s a significant number, and a substantial challenge for these institutions that want to remain relevant to the next...
Gen Z is often typecast as a different species, a pervasively anxious one that never knew daily life without the internet, thrift shops, and consumes social media voraciously. But in many ways, these consumers, roughly 28 years old or younger, are just like the rest...