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With 2022 well underway, credit unions are finding that the need to introduce competitive products and services is stronger than ever – and that collaborative partnerships are a key to success when letting a new offering loose.

A new report from consulting firm Cornerstone Advisors, “What’s Going On in Banking 2022: Rebounding From the Revenue Recession,” outlined a number of U.S. community financial institutions’ priorities for this year, among them real-time payments (RTPs) and cryptocurrency services. Cornerstone based its report on a December 2021 survey of 300 senior executives at mid-sized financial institutions, 55% of whom were from banks and 45% from credit unions. While very different in terms of their end goals and implementation processes, both RTPs and cryptocurrency represent areas where credit unions are just beginning to test the waters – often with plenty of help from third parties.

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Natasha Chilingerian

Natasha Chilingerian has worked in the credit union space for over a decade. She joined CU Times as managing editor in 2015 and was promoted to executive editor in 2019. Before that, she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union) in Los Angeles from 2013-2015, and as a CU Times freelancer from 2011-2013. She has been a professional writer and editor for more than 17 years, specializing in news and lifestyle journalism as well as marketing copywriting for companies in the finance and technology space.

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