MADISON, WIS. (6/25/15) —The National Credit Union Roundtable Advisory Council, a leadership council appointed by CUNA’s board chair, announced today’s release of “Turmoil in Payments: Credit Union Keys to Success.”
“The evolution of payments is perhaps the most dynamic topic in financial services today,” said Nader Moghaddam, president/CEO of Financial Partners CU, Downey, Calif., and chair of the National Credit Union Roundtable Advisory Council. “The roundtable wanted an up-to-the-minute look at the changing landscape to best meet the needs of existing members and attract new ones.”
Credit unions are invited to download a complimentary copy of the payments market scan and research conducted by the Filene Research Institute.
Filene interviewed more than two dozen experts, conducted a survey to gauge credit unions’ challenges around payments and what they’re doing about them, and examined existing literature.
The report’s five chapters include:
"Payment methods are a credit union’s closest everyday tie to members,” said Ben Rogers, research director at Filene. “If we get them right, we’ll surf the wave of disruption. If we get them wrong, big banks and technology upstarts will quickly siphon transactions, and then members, away.”
This research explores collaboration opportunities, credit union digital wallets and leverage points for credit unions to stay on top of that change, he said.