Credit Union Membership and Credit Profiles

Two-Thirds of CUs Take Risky Approach to Digital Innovation Digital banking experiences are table stakes for CUs, but 64% of CU executives adopt innovations only after competitors prove they are successful, putting them at a disadvantage. PYMNTS’ latest study of 4,097 consumers and 100 CU executives, “Credit Union Innovation: Credit Union Membership and Credit Profiles,” a collaboration with PSCU, reveals the disconnect between the innovations consumers want and what CUs provide.
Inside the June Report
  • 28%: Portion of CU members willing to switch FIs for more innovative experiences
  • 64%: Share of CUs taking wait-and-see approach to innovation
  • 89%: Portion of CU executives who cite operational challenges as key obstacles impacting their innovation agendas

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    PSCU Credit Union Innovation Report Series

    Growing Credit Union Membership via Lending and Omnichannel Banking Innovation
    2024 Credit Union Innovation Readiness Index
    How Credit Product Rates Impact FI Selection
    Staying Ahead Through Payments Innovation
    Bridging the Cryptocurrency Divide — Why Members Want Access, Why Credit Union Executives Resist
    Product Development Slowdown Tests Member Loyalty
    Cryptocurrency As A Key To Member Loyalty
    The Race To Meet Consumer Demand
    Product Innovation As The Key To Membership Growth
    Responding To Member Demands For Digital Financial Services
    Credit Union Innovation Playbook
    Credit Union Innovation
    Credit Union Innovation
    Credit Union Innovation
    Credit Union Innovation
    Credit Union Innovation
    Credit Union Innovation
    Credit Union Innovation
    Credit Union Innovation
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    Credit Union Innovation
    Credit Union Innovation
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