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CUs Use AI, Cloud-Based Tools To Drive Member Engagement

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President and CEO Chuck Fagan of credit union service organization PSCU said that while financial institutions (FIs) had forecast returns on assets (ROAs) would fall to 30 basis points in the new year, CUs have told him they are gaining confidence regardless. To get the full story, download the Tracker.

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Branching Out: Physical Locations Boost CUs' Digital Plans

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Many CUs have since leaned into these efforts with digital innovations aimed at a range of issues, such as tackling fraud or enhancing members’ remote banking access. Around The Credit Union Landscape. Coast Capital On The Innovations Driving CUs’ Digital-First Future.

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Affinity Federal Credit Union On The Importance Of Accelerating Digital Transformations

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CUs are known to work collaboratively, Kearns said, and Affinity received assistance from credit union service organizations and other CUs that had completed their digital shifts. “A And that’s really how we embarked on our digital transformation.”. Affinity had help with its transformation, too.

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NEW REPORT: Millennials Raise Credit Unions’ Innovation Bar

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In a landscape that’s fast evolving to match the needs of tech-savvy customers, credit unions are innovating to compete with larger commercial banks and FinTech firms to attract and retain customers. The National Council of Firefighter Credit Unions (NCOFCU) agreed to work with web design firm OMNICOMMANDER.

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Credit Unions Tech Up For Competition

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With over 58 percent of customers saying they’re “extremely” satisfied with credit unions (CUs) and nearly six in 10 saying they would stick with their CU even if it didn’t have all the bells and whistles of bank tech that competitors do, the bond between members and CUs remain strong. Innovate or Die’.

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Anticipating The Consumer Spending Rebound

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In an interview with Karen Webster, Chuck Fagan, president and CEO of PSCU , a credit union service organization (CUSO), said that the impact to consumer spending will be prolonged, but the recovery will be swift and sharp — depending on where you look. Overall credit card spend was down 29.9

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Taking A Data-Driven Approach To Meeting CU Members’ Banking Needs

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Credit union service organization PSCU is also among those adding new features to help make remote life easier for CUs and their members. The company has plans to further enhance its mobile services, including support for online card management tools according to a recent press release.