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Payfinia has launched a new CreditUnionServiceOrganization (CUSO) to help creditunions modernize their payments experience. The CUSO is launching in partnership with Star One CreditUnion, which invested $4.5 million in the organization. million in the organization.
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.
Though the sector is considered healthy and well-managed, creditunions and the CUSOs (creditunionserviceorganizations) that support them with tailored offerings face upheavals in the next couple of years.
Amid the coronavirus pandemic, PSCU compared transactions of its owner creditunion members on a same-store basis between March 2019 and March 2020. The year-over-year increase in debit card drug store transactions came out ahead of credit cards by two times. percent drop. percent decline in transactions and a 22.5
While staying mindful of our creditunions’ time and current member needs, we have an impressive lineup packed with strategies for sustaining success now and into the future – and we’ll have some fun together as well,” he added. ET each day.
After rumors of decline, CUs kicked off the roaring 2020s with higher metrics across the board – mortgage loans up by a staggering 81 percent, loan originations up almost 30 percent year over year, and non-real estate loans up by double digits. Seems that everybody likes creditunions—including cybercrooks.
PULSE supports all of these transaction types whether they originate inside a store, in-app or online,” Schroeder said. Learnings and data from prior economic downturns tell us that consumers will prefer debit over credit in uncertain times. It may be most prevalent in grocery payments now, as consumers adjust buying behaviors.
The latest PYMNTS CreditUnion Tracker™ , powered by CO-OP Financial Services, features news on the latest regulation changes facing the creditunion market, along with recent partnerships and innovations that are changing how creditunions conduct their lending practices.
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