Credit Unions Plan to Nearly Triple AI Payment Services

For credit unions (CUs), the race to strengthen AI capabilities may be decided by following through on the plans already in place rather than developing entirely new innovations.

That is the central message of “AI at the FI: Inside Credit Unions’ Demand-Execution Gap,” a PYMNTS Intelligence and Velera report that examines how CUs are responding to growing demand for AI-powered financial services. While consumers and small businesses already want artificial intelligence tools that help manage their finances, many institutions have yet to make those services widely available. The report argues that the industry’s opportunity now lies in execution. CUs can substantially narrow today’s AI readiness gap by delivering the capabilities already in their development pipelines.

Key Findings:

57% of top-tier CUs expect to offer AI-enabled payments by 2032, up from 20% that offer them today, representing one of the largest planned expansions among AI capabilities.

67% of top-tier CUs plan to provide AI-powered financial advice by 2032, compared with 22% today, signaling a major shift toward personalized financial guidance.

78% of top-tier CUs expect to offer AI chat support by 2032, more than doubling the 22% that currently provide the service, giving members broader access to AI-assisted banking.

The projections suggest that many CUs have already identified where AI can deliver the greatest value. Rather than pursuing experimental applications, planned investments focus on services members are likely to use every day, including payments, financial guidance and digital support. Success now depends on moving those initiatives from strategy documents into live products.

That could reshape the competitive landscape. The report finds that today’s gap between consumer demand and available AI services is significant, but it is not permanent. CUs that execute on their roadmaps could quickly narrow the distance between what members expect and what the institutions can deliver.

The findings also point to a broad industry effort rather than isolated investment by a handful of large institutions. Emerging CUs are expected to make some of the biggest gains by 2029, allowing them to approach the AI capabilities currently offered by more advanced peers. That would create a more consistent digital experience for members across the CU sector.

The report also reinforces that consumers are looking for practical solutions. Members show the strongest interest in AI tools that help them budget, monitor spending, manage bills and better understand financial products. Those preferences give CUs a clear target as they prioritize technology investments.

The industry’s next chapter may therefore be defined by delivery rather than discovery. CUs have already outlined ambitious AI plans, turning those commitments into everyday member experiences could substantially reduce the AI readiness gap and strengthen their position in an increasingly digital financial services market.