The Race To Meet Consumer Demand

Increasing Number of Credit Union Members Drawn to More Innovative Banking Alternatives

For the July edition of “Credit Union Innovation: The Race To Meet Consumer Demand,” a collaboration with PSCU, PYMNTS surveyed 6,483 U.S. account holders and 151 credit union executives and found, for the first time, a record number of members who say they’re interested in seeking banking alternatives — and found one consistent theme that kept emerging.

Inside the July Playbook
  • 56%: Share of FinTechs providing CUs with digital products that say CUs are taking too long to adopt new technology
  • 60%: Portion of CUs investing in innovative products such as real-time and P2P payments
  • 17%: Share of CUs classified as early launchers of new products