Latest research explores how credit unions can transform their business for growth
Battered by economic challenges, today’s financial consumers are being forced to reevaluate their spending and saving habits. Fewer consumers are feeling financially secure, with nearly half of all surveyed living paycheck to paycheck.
Despite this difficult terrain, many—if not most—credit unions know what they need to do to succeed. They recognize that a deep understanding of their members’ financial needs and concerns is key to earning their trust, deposits and daily transactions. They also recognize that competitive pricing and legacy product offerings are no longer enough to break through in a cutthroat and noisy financial marketplace.
To achieve a successful member-centric strategy, credit unions must transform their business through clearly defined value propositions, strategic alignment and enhanced digital delivery, all supported with the right talent, technology, and organizational culture and capabilities.
These are just a few of the actionable takeaways from PSCU/Co-op Solutions’ latest research, which will be released at THINK 24 in Nashville, May 7-10, 2024.
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