Credit unions expecting to profit markedly and gain many new accounts from Bank Transfer Day fallout and Occupy protests will need to drastically step up their technology game, according to a California research firm.

In a harsh appraisal of future industry fortunes, James Van Dyke, founder of Javelin Strategy & Research of Pleasanton, warned that CUs stand to "go the way of the Oldsmobile" based on their technology performance so far.

While the industry enjoys the public's love, it sorely lacks the full tech expertise to appeal to a younger clientele retained by large banks, declared Van Dyke.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.