First-responder Credit Union Newsroom

  https://youtu.be/pUIV8hwSDCE NEW YORK—Credit unions that embrace open banking aren’t just keeping pace with competitors—they’re pulling ahead, new data show. A new report finds that innovation in digital tools and personalized experiences is emerging as the decisive factor separating credit unions that win lasting member loyalty from those at risk of losing ground. “ The 2025 Credit Union Innovation Readiness Index: Closing Gaps, Winning Members ,” a June report produced in collaboration between  Velera  and PYMNTS Intelligence, underscores innovation as a defining factor for credit union success. iStock-Korakrich Suntornnites “Facing shifting expectations from both consumers and small to medium-sized businesses (SMBs) toward digital convenience and tailored experiences, credit unions must modernize not just to compete with traditional banks, but to remain relevant to their members. The report, based surveys of 500 credit union executives, 15,000 U.S. consumers, and nea...

 September 2, 2025 Credit union loans outstanding increased 0.38% in June, compared to a 0.48% increase in May and a 0.17% increase in June 2024, according to America’s Credit Unions’ latest  Monthly Credit Union Estimates .  Products that led loan growth include:  Home equity lines of credit (1.45%), Credit cards, (0.87%), Second mortgages (0.73%), First mortgages (0.33%), Secured personal loans (0.32%), Unsecured personal loans (0.23%); and Auto loans (0.1%). On the decline in June were private student loans, which fell by 0.77%. The report is generated from the Equifax Analytics Dataset, an anonymized random sample of credit report data that tracks 10% of all U.S. consumers with a Social Security number. The estimates are updated monthly and available in an online dashboard with other resources. The  Data and Tools section of America’s Credit Unions website  contains a wide range of dashboard ...