Credit Unions

The competition between banks and nonbanks is intensifying as customers demand faster, always-available ways to move money. Banks are finding that the FedNow® Service can help them compete more efficiently ...

Consumers have grown used to managing nearly every aspect of their financial lives on their phones, but convenience alone is no longer enough. Many now expect digital banking to help them ...

By collaborating, innovating and keeping members first, credit unions can thrive, Velera EVP and Chief Administrative Officer Brian Caldarelli asserts in a new PYMNTS eBook, “Headlines That Will Shape the ...

FinTechs may be talking themselves out of credit union deals. According to the PYMNTS Intelligence report “Credit Union Innovation Readiness: How FinTechs Are Shifting Their Partnership Strategies,” a Velera collaboration, half ...

Branch closures may dominate the headlines, but for many credit union (CU) members, the in-person experience is still non-negotiable. PYMNTS Intelligence and Velera found in a recent Credit Union Tracker ...

Watch more: At The Edge: DaLand CUSO and Metallicus, Jon Ungerland and John Ainsworth When it comes to digital assets, credit unions (CUs) and regional banks are entering an “act now” ...

Fraud continues to plague the payments system — and regulators are asking for answers. Banks, credit unions and payment networks responded to a joint Request for Information (RFI) from the ...

Keeping Generation Z engaged is more than a marketing imperative; for credit unions, it’s fast becoming a survival strategy. Gen Z’s digital-first expectations and readiness to adopt new technologies are forcing ...

Credit unions are under pressure to give business customers the same clean interfaces, self‑service onboarding and actionable insights they get from bigger banks. And they want it without losing the ...

For credit unions, relationships with members are often measured in decades, not years. But as younger generations grow into their prime earning and spending years, credit unions risk losing that ...

New data on credit union innovation says what few FinTechs want to hear: Bank branches still matter, especially if you care about keeping your most loyal members. That’s one of the ...

Credit unions should focus on digital tools, personalization and authentic storytelling to appeal to members of the increasingly influential Generation Z, credit union service organization (CUSO) Velera said in a Tuesday ...

In the battle to keep customers and attract new ones, open banking is a key differentiator for credit unions, propelling top performers ahead while many others lag, potentially missing a ...

Consumers expect money to move at digital speed. Whether it’s a payroll deposit, an insurance payout or a merchant refund, waiting days for money now feels out of step with everyday ...

Watch more: Searching for Reliable Signals in Banking’s New Data Reality Financial institutions, especially credit unions, are finding themselves in uncharted territory. The promise of artificial intelligence (AI) to unlock strategic ...

The financial services map is being redrawn, and credit unions are at the center. As FinTechs distance themselves from big banks, they’re forging bold new partnerships with smaller, more agile ...

Velera has launched an initiative aimed at tapping into the growing popularity of stablecoins. The credit union service organization’s Digital Asset Lab, announced Wednesday (Aug. 20), is designed to place credit unions ...

While many credit unions historically relied on strong community ties and personalized service, the youngest generation of members is increasingly eyeing the exit, demanding a digital-first experience that could redefine ...

Consumers no longer choose cards. They choose the card that best fits the task in front of them, whether it’s paying rent, funding a trip or padding a rainy‑day reserve. ...

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 ...

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 ...

Algebrik AI and Open Lending partnered to provide auto loan decisioning capabilities that are designed to enable credit unions and community lenders to confidently extend credit to near- and non-prime ...

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 ...

The Federal Reserve said Thursday (July 31) it joined other federal banking agencies in allowing banks and credit unions to obtain customers’ tax information numbers from a third party, rather than ...

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 ...

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 ...

Credit unions must adopt a holistic, enterprise-wide approach to fraud prevention, Velera Chief Operations Officer Dean Michaels writes in the latest PYMNTS eBook, “Halftime 2025: Charting the Future of Payments.”   ​​In ...

Generation Z is rewriting the rules of engagement for the financial services sector. Full stop. As the first true digital natives, their expectations, spending patterns and banking preferences are shaping ...

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, ...

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 ...

The transaction limits tied to real-time payments have been marching steadily higher. For banks using the instant payments rails, the stage has been set for a summer surge in higher dollar-value ...

Washington-based credit union BECU has acquired generative artificial intelligence (AI) capabilities and 13 team members from FinTech company EarnUp. One of the team members, EarnUp Co-Founder Nadim Homsany, is now the ...

America’s consumer watchdog has cancelled a $95 million fine against the country’s largest credit union. The Consumer Financial Protection Bureau (CFPB) levied that penalty against Navy Federal Credit Union last year, ...

Watch more: Banks and Credit Unions Battle for Digital Wallet Dominance as Gen Z Demands Instant Control Banks and credit unions have long chased “top-of-wallet” bragging rights, but as consumers swap ...

A transformation is underway within the credit union ecosystem, where innovation in financial products and services is no longer exclusive to the largest or most well-resourced institutions. The PYMNTS Intelligence report ...

Credit union service organization (CUSO) Velera teamed with investment firm Black Dragon Capital. The collaboration will see Velera and Black Dragon work toward “creating and scaling” FinTechs that allow credit unions ...

ValidiFI’s instant bank account validation solution, vAccount, is powering a new bank account validation function that credit union service organization Velera offers its clients. This solution helps optimize the member onboarding ...

Watch more: Velera Builds Governance Framework, Shields Credit Unions From AI Risk There’s no reason credit unions should be left out of the artificial intelligence conversation. The technology is moving beyond theoretical ...

In 2000, USA Today was the most circulated newspaper in the United States. More than 1.6 million copies were printed each day. Over 6.6 million readers picked it up. It ...

Faster payments are fundamentally changing how commercial banks and credit unions deliver value and differentiate themselves. This shift extends beyond mere transaction speed; it’s about aligning payment capabilities with the evolving ...

Credit unions closed 32 locations during the first quarter, the largest drop since 2021. As the publication Credit Union (CU) Times reported Tuesday (June 17), that brings the industry’s branch count ...

Credit unions (CUs) face a critical juncture that threatens their long-term viability. Baby boomers dominate CU membership, making up 39% compared to 31% for millennials and Generation Z combined, and the ...

Across more than 10,000 banks and credit unions in the United States, only a small subset has a direct merchant acquiring strategy. Yet, one would be hard-pressed to find a single ...

The most digitally-native cohort is rapidly reshaping the financial services landscape. With their purchasing power projected to reach $12 trillion in just five years and a staggering $84 trillion in ...

The traditional credit supply chain is showing signs of strain, leaving millions of consumers seeking alternatives to conventional banking products and opening new avenues for technologically driven lenders. Mainstream banks and ...