Credit Union Innovation Index

Credit Union Innovation Playbook – June 2019

Inside the Playbook
Credit Union Innovation Playbook – Data Analytics Edition
  • 55.6 percent of CUs that focused on data analytics said they were equally focused on developing new products and new features
  • 79.4 percent of CUs made AML-based initiatives their top investment focus over the previous three years
  • 39 percent of analytics-focused CUs based their innovations’ ROIs on whether they reduced existing products’ operating costs

Credit Union Innovation Playbook – April 2019

INSIDE THE APRIL Study
Credit Union Innovation Playbook
  • 59.9 percent of current CU members consider it “very” or “extremely” important for their CUs to offer mobile apps
  • Among Generation Z members, 50.4 percent chose their CUs because of their mobile app offerings
  • Bridge Millennials are more likely than any other generations to consider switching their primary FIs, with 12.7 percent willing to do so

Credit Union Innovation Playbook – March 2019

About the Playbook
Credit Union Innovation Playbook
  • 81.3 percent of credit union members cited trust as a reason for selecting an FI, while 80.6 percent of them cited it as a reason to remain with their CUs
  • 42.4 percent of CU members want their FIs to focus on anti-fraud solutions, and 33.0 percent cited data security as their top innovation priority for the next three years
  • 64.3 percent of FinTechs expressed interest in bypassing CUs to sell directly to members

CREDIT UNION INNOVATION INDEX

KEY FINDINGS IN THE STUDY INCLUDE:
Credit Union Innovation Index
  • 51 percent: Portion of CU members who banked with CUs because they liked their prices
  • 58.4 percent: Share of members who were “extremely” satisfied with their CUs
  • 51 percent: Portion of CUs that cited compliance as an impediment to innovation
To Top