The lending landscape is transforming digitally, and credit unions must adapt to stay competitive. A recent Mastercard survey of 7,600 consumers across seven countries found that 90% of respondents aged 18-29 prefer loan options with a digital application or approval process. These findings, coupled with industry data showing a slowdown in loan growth and rising […]
Credit unions thrive on human connections and personalized service, which is why many members choose to join and stay with them. According to the American Customer Satisfaction Index (ACSI), credit unions historically outperformed banks in member satisfaction. However, recent trends show a decline, with credit unions’ satisfaction scores falling behind banks for the fourth consecutive […]
Rising charge-offs are a critical concern for every credit union executive. The latest NCUA data paints a concerning picture – a 0.78% net charge-off ratio and a 0.91% delinquency rate – reflecting the combined pressures of inflation, rising interest rates, and economic uncertainty. But national averages don’t tell the whole story. Your credit union’s risk […]