In the old days, a credit union's personal financial managementtools largely consisted of paper checkbook registers and free pens.Today, they're sophisticated digital tools that are part of amulti-million dollar industry, and the stakes are much, muchhigher.

Credit unions now have to make crucial decisions about whetherand how PFM offerings work on their sites, and because they usuallydon't build them in-house, the decision to purchase branded versus“white-label” products can be a game-changer.

Increasingly, PFM products are becoming important to consumers.Only 72% of men, 73% of women and 79% of millennials said they'rein control of their finances, according to the 2015 Consumer Banking Insights Study by BancVue; thosenumbers are down from 84%, 80% and 83%, respectively, in 2013. Andcommunity bank customers and credit union members are more likelyto see their financial institutions as partners in managing theirfinances (70%) compared to customers of megabanks (57%).

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