Responding To Member Demands For Digital Financial Services

New Data: Credit Unions Sharpen Mobile Payments Focus as Member Loyalty Slips

Members’ satisfaction with their credit unions slipped to 86% at the end of 2021, and now neobanks and even traditional banks are closing the gap. The latest Credit Union Innovation report, a PYMNTS and PSCU collaboration, surveyed 4,832 U.S. consumers, 101 credit unions and 51 FinTechs to learn why more credit unions are staking the future of member satisfaction on tools like mobile wallets and P2P payments.

Inside the February Report
  • 74%: Share of CUs that made investments in mobile banking in 2021
  • 24%: Portion of CU members who would switch FIs for more innovative products
  • 19%: Share of CUs classified as early launchers of digital products and services in 2021