Growing Credit Union Membership via Lending and Omnichannel Banking Innovation

PSCU Study Adds New Urgency to Credit Union Innovation

Growing Credit Union Membership via Lending and Omnichannel Banking Innovation

CUs are on the clock, with roughly 1 in 5 account holders having changed primary banks last year. A new PYMNTS Intelligence study of 4,524 U.S. consumers, “Growing Credit Union Membership via Lending and Omnichannel Banking Innovation,” a collaboration with PSCU, offers insight — and even sounds a few alarm bells — for what credit unions must do to retain existing members and attract new ones.

Inside the March Playbook

  • 7.9%: Portion of CU members say they switched to their CU because their previous FI lacked sufficient online and mobile banking
  • 18%: Share of CU members who want their FI to provide budgeting tools in the next three years
  • 12%: Portion of CU members who say they switched to their current CU because their previous FI did not have branches nearby.

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