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Study by Pymnts shows power of innovation with CU perspective

Credit union innovation is the focus of a study featured on Pymnts.com, taking a pulse on how credit union professionals feel about following the latest trends to serve members.  The results show that credit union members look favorably at innovative organizations, and 21.9% would switch if they found a more forward-thinking financial institution.

With an ever expanding world of Apps allowing people to zap money among friends and family, peer-to-peer payments were another potential game changer, with 35.8% of members who are “very” or “extremely” interested in having that capability.

It wasn’t just credit union members who wanted to stay on the cutting edge. The report showed 80% of credit union executives are interested in voice assistant innovations.

According to the study, “Drawing from a data sample of 3,908 U.S. consumers, 137 credit union leaders and 55 FinTech executives, the index examines the shifting importance financial consumers place on innovation as well as the innovation types they prioritize and how well CUs’ and CU competitors’ innovation plans are meeting their expectations.”

The study can be downloaded here.

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About Us

The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

LSCU Mission Statement

To create an environment that enables credit unions to grow and succeed.

LSCU Vision Statement

To be the trusted advocate and preferred source of information for credit unions.

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