X

Blog

Aug 29, 2017
The future of your Credit Union depends upon how you adapt to the changing landscape of the financial industry. One aspect of the change is leveraging your greatest tool for fee income—debit and credit card interchange revenue. Take a look at some of the emerging strategies, then compare them to your CU's current approach.
Read More
Aug 28, 2017
Most credit unions recognize the growing role and incredible benefits of technology in the financial industry. Some have been fast adopters, but many more have found it challenging, especially as rising costs for software and third-party services squeeze IT budgets. If credit unions are going to survive in a mobile and app-driven world, though, they’ll need to adapt or face falling behind.
Read More
Aug 23, 2017
In the United States, the average credit union customer is 47 – in Canada, 53. Legacy members are entering a phase of life in which their spending may be more restrained. To continue growing, credit unions must seek new ground: The Millennial consumer.
Read More
Aug 22, 2017
Most consumers have at least three credit cards from various sources. In addition, many people also carry one or two debits cards and a mix of gift and loyalty cards. A recent Gallup poll showed most Americans foresee the death of cash in their lifetimes, meaning all purchases will be made with credit and debit cards, as well as other forms of electronic payment. For the big issuers, this is rosy news, but for smaller institutions like credit unions, it can be stormy.
Read More
Aug 22, 2017
Credit union interchange revenue is a key part of every credit union’s bottom line. Credit Unions have seen impressive growth and the industry looks to continue this expansion by growing markets size and keeping pace with improving technology trends. However, despite this growth, there are several factors that can limit your interchange revenue if you don't keep a careful watch on them.
Read More
Aug 22, 2017
While optimizing value for clients is the primary focus of credit unions, financial survival also requires CUs to generate a certain amount in annual earnings. Debit and credit card interchange revenue usually deliver a sizable chunk of most CUs’ non-interest income. As this is arguably one of the biggest avenues to generate revenue it’s important to keep it coming in, regardless of changes in the financial industry or disruptions caused by technology.
Read More
Aug 21, 2017
Digital payments are not new. PayPal came to life in 1998 as a money transferring platform. By the year 2000, people were using it to make payments on eBay. Early in 2002, PayPal went public and by August of that year, eBay announced it was acquiring the payment platform in a deal valued at $1.5 billion. At the time, experts called PayPal the “gorilla” of the online payment market, much as eBay was the gorilla in the online auction market.
Read More
Aug 18, 2017
As consumers increasingly shop online and pay bills with debit and credit cards, it’s more important than ever for credit unions to improve cardholder experience, providing them swift, easy access to accounts and data anytime, anywhere. For the credit union itself, it’s vital to maintain up-to-date cardholder information in order to ensure members consistently use the credit union’s card for all their payments. It’s a challenge, particularly when competing with institutions that have a far g...
Read More
Aug 18, 2017
Channel optimization. Data management. Compliance and regulation. Cybersecurity. Aggregation services. For credit unions (CUs), keeping up with technology in all areas of business can be a significant challenge. Your CU stands to lose with a ‘Johnny-come-lately’ approach to innovation, however, so staying abreast is important to remain relevant in the competitive financial services industry.
Read More
Aug 17, 2017
Tampa-based Suncoast Credit Union and SetIt Credit are now working together to improve cardholder experience via SetIt’s simple-to-use and secure card management tool.
Read More
Page 4 of 5 [4]