Consultants say "this extraordinary chance at growth cannot be squandered" but CU leadership must proceed with caution.
If a new report is any indication, online banking adoption appears to have reached its limit.
Since the finalization of the Durbin amendment, many credit unions have been considering how they will compensate for lost interchange revenue with other forms of noninterest income.
A combination of factors has credit unions seaching for noninterest income in earnest.
The 3,000 credit unions and banks on the Fiserv bill pay network can now offer a link for Discover cardholders to pay that bill through their financial institution’s online banking site.
PayPal's commanding presence in the P2P space is hard to compete with, so maybe joining them would be a better strategy for credit unions.
Making use of its new community charter, the $86 million Framingham Municipal Federal Credit Union in Massachusetts has become Metro-West Community FCU.
Starting this year, at least some underbanked or unbanked tax payers will be able to receive their tax refunds on prepaid Visa branded debit cards.
In today's market, attractive rates and fees, innovative product platforms, rewards and incentives are all at the top of the list as consumers select their financial services providers.
American Heritage Federal Credit Union, Philadelphia, helped the Philadelphia Charter Academy kick off its "Bring Your Own Bag" project recently.