Credit Union Consolidation in a Tough Economy

Strategic Mergers Help Credit Unions Survive — and Thrive — in a Tough Economy

With nearly half of CU executives saying a lack of resources prevent them from bringing innovations to market, CUs are stuck piloting the digital innovations their members crave — and are willing to switch FIs for. The rise of strategic mergers is a way that some CUs are exploring to pool resources, innovate and drive scale. Read more in the “Credit Union Tracker®,” a collaboration with PSCU.

Inside the August Tracker

CUs’ market niche has come under threat in recent years as consumers begin to abandon brick-and-mortar banking services in favor of digital banking.
CUs have hesitated to implement instant payment rails, but FedNow’s direct-to-Fed accounts have made this system more appealing.
This month’s PYMNTS Intelligence examines why CUs are merging to pool resources and survive in a rapidly changing financial environment.