Credit Union Innovation

NEW DATA: Credit Unions’ Innovation Priorities Reflect FinTech Competitive Pressures

Eighty percent of credit union (CU) members feel satisfied with their CUs’ innovation efforts, but CUs with digitally savvy competitors and digitally first members aren’t resting on their laurels. The Credit Union Innovation Study, a PYMNTS and PSCU collaboration, takes a 360-degree view of consumers, CU decision-makers and FinTech executives to learn how CUs are realigning their innovation priorities to stay competitive.

Inside the July study:
  • 80 percent: Share of members who say their CUs innovate “very” or “extremely” well
  • 68 percent: Share of CU members who consider trust in choosing where to bank
  • 63 percent: Share of CUs that say a lack of data analytics hinders their innovation efforts