Fourteen percent of U.S. households are underbanked according to the FDIC’s most recent National Survey of Unbanked and Underbanked Households. The FDIC describes the underbanked as those who use transaction and credit services [...]
In 2023, 34% of financial institutions with assets at or under $5 billion saw a growth in debit/prepaid fraud while 56% of larger institutions also witnessed an increase (PYMNTS). The impact of compromised cards [...]
More than half of consumers identify debit as their card of choice, reflecting a continuing trend in online and contactless spending since 2020 (SP & Global). To make your credit union’s debit card top [...]
In 2023, debit cards were the top payment method for 57% of consumers according to Forbes. The popularity of debit cards presents an opportunity for credit unions to build member loyalty and improve their revenue [...]
“Financial Well-being for All is the subtle, but fundamental shift in the credit union promise to amplify what credit unions have always done better: ensuring everyone has complete, affordable access to financial services.” – CUNA/America’[...]
Credit card use is on the rise, increasing from 18% of payment methods used in 2016 to 31% in 2022 (Federal Reserve). The way consumers use credit cards, however, is changing and has been influenced [...]
Over seventy percent of small financial institutions are experiencing an increase in fraud rates (PYMNTS). Fraud attacks are not only increasing, but they are also becoming more sophisticated. Even some old threats are being revived [...]
How are credit union professionals like meteorologists? Both need to look out for changes in seasonal patterns. For credit unions, however, those patterns represent consumer behavior that can give insights into how to meet member [...]
Years of experience in collections services has shown me the importance of being proactive about member debt. Addressing potential delinquencies before they can happen fosters more financially healthy members and increases their trust in your [...]
The Buy Now, Pay Later (BNPL) payment method is growing fast with a predicted market value of $565.8 billion dollars by 2026 according to GlobalData. What are the driving forces behind this growth? What [...]
While American business has encountered many economic and technological changes, small business remains at the heart of the American economy. According to Forbes Advisor, more than 46% of employed Americans work for our nation’s [...]
In 2025 and 2026 there will be significant mandates and changes impacting ATM’s for credit unions. Envisant, in partnership with Meirtran, is here to help. In 2025, ATM’s will need to have a [...]
Personalization is the key to portfolio development growth. According to Salesforce, 66% of consumers believe a company should know their individual needs and 52% expect personalized offers. While personalization can take many forms, its core [...]
More than 20% of U.S. retail purchases are expected to take place digitally by 2026 according to Insider Intelligence. This reflects consumers’ rapidly increasing comfort with digital payment methods. Some of the most popular [...]
The word “Collections” often generates a movie-like image of an impersonal, even intimidating, agent making incessant phone calls to collect on a debt. Stereotypes like this can lead to an unrealistic belief that a successful [...]
