From lingering pandemic-era supply chain issues, rising inflation, and ongoing Fed rate increases, to the war in Ukraine, tech company layoffs, and a volatile stock market, 2022 was a year to remember (and for many, [...]
As we turn the page on 2022, losses from fraud remain a significant threat for credit unions, their members and businesses. Consider that U.S. consumers lost a record $3.56 billion to online fraud [...]
By all accounts, 2022 was a year of accomplishment for both Co-op and the credit union movement. Credit unions have continued their strong growth in membership, with 5.7 million members added over the year [...]
Through the first half of 2022, U.S. credit unions opened 12 net new branches, adding to the net 46 branches opened in 2021. Meanwhile, U.S. banks closed 2,927 branches in 2021, a [...]
Lending products have long existed as bread-and-butter offerings for most credit unions. Even as the fabric of the financial services quilt becomes more colorful, consumer-friendly loans from people-centric lenders continue to play a very important [...]
The U.S. small business sector represents a huge and growing market opportunity for credit unions—one that is largely underserved by big banks and other financial institutions. Business credit cards can be a win-win, [...]
As we celebrate the season of giving, we are reminded of the amazing contributions credit unions make each year to their local communities. Once again in 2022, Co-op Solutions and its partnering credit unions have [...]
The hybrid working model – where some members of a team are in-office full-time, some part-time and some completely remote – has changed the face of how we work together. It has also been a quick transition, [...]
Designing the “seamless” digital experience that financial consumers expect ironically requires a lot of attention to seams. Behind today’s smooth, enjoyable and secure transactions are thousands of threads of code, protocols and definitions, all [...]
Fintechs are growing rapidly — faster than all other types of financial institutions — and are capturing more of members’ daily interactions. For example, between 2021 and 2022, PayPal experienced five times relative growth in PFR, Chime [...]
It’s no exaggeration to say billions of dollars in incremental interchange is up for grabs right now, particularly when it comes to debit programs. Even amid fears of a recession and the challenges of [...]
The once inextricable link between trust and long-term relationships may be fading. That certainly seems to be the case when we consider the unprecedented trust consumers are placing in the youngest of financial firms. Between [...]
Holiday shopping season is upon us, and it’s shaping up to be a bumpy ride. To counteract challenging economic headwinds, major retailers like Amazon, Target and Walmart have tried to jumpstart the season with [...]
International Credit Union Day is October 20, a time to celebrate the many contributions our movement has made to the communities we serve. Since 1948, the World Council of Credit Unions has designated the third [...]
Over the past few years, there’s been a notable migration from in-person to e-commerce shopping. Coupled with the shift to EMV chip cards, which has significantly reduced card present fraud at the point of [...]
