In an era of almost daily news about alternate and mobile payment solutions in our industry, credit union executives are right to be concerned not only about the future of their business but also of the potential dilution of their brand as new players enter the market.
Consider this scenario. Brandon and Nicole need a new lawn mower. They've been saving money for a couple months in their share account, researching different models and watching for deals. They plan to use their credit union credit card to make the purchase when the time arrives.
The Sunday paper is delivered, stuffed with ads, and Brandon spots the lawn mower he wants on sale at the local big box home improvement store. He and Nicole borrow a trailer from the neighbor, load up their two kids and head to the store.
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