Fintech News

Budget Season: What it Takes to Win Hearts, Minds, and Wallets

Sep 28, 2017 11:13:22 AM / by John Best posted in Setit Credit, Credit Union Management

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Through ups and downs, thick and thin, traditional and emerging schemes, one thing remains constant for credit unions: budgeting season. As we all know, October is the month credit unions start to strategically plan and budget for the coming year and beyond. The season typically begins with big ideas for growth and improving customer relationships, but sadly ends with a tight budget that reflects must-do tasks driven by government regulations.

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Budget Challenge: Meet Credit Union Strategic Goals, Innovate AND Keep the Lights On

Sep 22, 2017 11:33:04 AM / by John Best posted in Setit Credit, Credit Union Management

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Members are the driving force behind all your credit union’s activities, and that’s understandable. Not only does your business strategy focus foremost on fulfilling their needs, but with directors who are members it’s a given that member interests will be top of the priority list. That makes your credit union budget strategy different from that of a for-profit bank, in the following ways:

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Is Your Credit Union Leveraging its Greatest Tool for Income and Profitability?

Aug 29, 2017 8:00:00 AM / by John Best posted in Setit Credit, Interchange Revenue

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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.

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Credit Unions Should Be Thinking Top of App Instead of Top of Wallet

Aug 26, 2017 8:00:00 AM / by John Best posted in Setit Credit, Interchange Revenue

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The widespread use of smartphones and the Internet is changing the way a lot of people live their lives and giving rise to a range of new terminology. According to research by Pew, smartphone usage is not just growing in America but around the world. This has lead to service providers in a wide assortment of industries creating apps for goods, services, and subscriptions. What this means for credit unions is the increased use of "apps" to make purchases using credit and debit cards.

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SetIt and Citadel Federal Credit Union Join Forces to Improve Cardholder Experience

Aug 18, 2017 8:00:00 AM / by John Best posted in CU Member Services, News, Setit Credit

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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 greater marketing reach.

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