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CUs are known to work collaboratively, Kearns said, and Affinity received assistance from creditunionserviceorganizations 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.
President and CEO Chuck Fagan of creditunionserviceorganization 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.
The December edition of the CreditUnion Tracker® explores the space’s latest developments, including how CUs are continuing to go digital and why creditunions’ can no longer afford to take wait-and-see approaches to digital innovation. Around The CreditUnion Landscape.
Payments creditunionserviceorganization (CUSO) PSCU has acquired payment solution firm Primax , according to a press release. Primax has been working with designing and providing services for payment card programs for creditunions for 40 years in the U.S. and the Caribbean, the press release adds.
In the latest PYMNTS CreditUnion Tracker® done in collaboration with PSCU , we delve into the technology gap that exists among many CUs (less than 5 percent of those in the U.S. currently offer mobilebanking apps, for example) and how it’s effecting institutional survival odds now. Innovate or Die’.
In an interview with Karen Webster, Chuck Fagan, president and CEO of PSCU , a creditunionserviceorganization (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
Creditunionserviceorganization 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 mobileservices, including support for online card management tools according to a recent press release.
Those are challenges that several solution providers are working to address by helping creditunions improve their online experiences for disabled creditunion members. BloomCU , for one, recently collaborated with web accessibility firm User1st to access automated scanning and plug-and-play accessibility services.
As COVID-19, the disease caused by the coronavirus , ravages the economy, and millions of Americans shelter in place to figure out their next financial moves amid layoffs and volatile markets, creditunions (CUs) have a role to play — particularly in the battle against fraudsters who would prey upon CU members at this most vulnerable moment.
Careington Health Products leverages SmartCART platform from Insuritas to deploy advisor services and discount programs. BBVA Compass adds cash-back incentive to stimulate interest in mobilebanking app. Fiserv launches Credit Sense , combining credit monitoring with digital banking.
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