Study: Investments in Payments Innovation Reduces Credit Union Member Churn by 57%
2024 Credit Union Innovation Readiness Index – January 2024
Spend more (on payments innovation), get more (member loyalty). That’s the result of a comprehensive study by PYMNTS Intelligence and PSCU collaboration of credit union executives and their members to examine what keeps, and what drives members away. Details inside the “2024 Credit Union Innovation Readiness Index” (CU-IRI).
Inside the January Index
- 93%: Share of the most innovative CUs that increased total investment in payment innovation in the past year
- 14%: Portion of total asset size that the most innovative CUs invested in payments innovation in the past year
- 19%: Share of the least innovative CUs that cite regulation and compliance as their top challenge
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