DeFi Daily News
Monday, June 9, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home DeFi

Previewing the Credit Union Spotlight at FinovateFall: Transforming through Competition and Collaboration

David Penn by David Penn
August 28, 2024
in DeFi
0 0
0
Previewing the Credit Union Spotlight at FinovateFall: Transforming through Competition and Collaboration
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article

2024 marks the 90th anniversary of the Federal Credit Union Act. Signed into law by President Franklin Delano Roosevelt in the summer of 1934, the Federal Credit Union Act authorized the formation of federally chartered credit unions in every state.

How are credit unions faring 90 years later? Today, total assets in federally insured credit unions sit at more than $2.3 trillion as of the first quarter of this year. That figure represents a year-over-year increase of 4.4%. Membership in federally insured credit unions has also picked up year-over-year, with membership topping the 140 million mark in Q1 of 2024.

But credit unions face significant challenges. Digital transformation is neither cheap nor easy. Competition with larger financial institutions–as well as Big Tech and Big Retail–has forced credit unions to seek new ways to better serve and engage their members.

FinovateFall 2024’s Credit Union Spotlight, presented by Curql, is designed to help credit unions overcome these challenges, offer new innovative solutions, and grow their membership ranks. The session, Wednesday afternoon, on September 11, will enable credit union executives to connect and speak intimately with a small, curated group of fintechs who are specifically focused on serving credit unions. The session will feature a series of rotating roundtables to give participants an ideal opportunity to interact, ask questions, and share best practices.

“It’s an exciting time to be a credit union looking at fintech,” said Greg Palmer, host of Finovate. “More and more innovators are creating solutions with credit unions in mind, and we’re delighted to be able to showcase some of those solutions to a room full of people who can start using them right away.”

Curious? Here are three reasons why you should attend our Credit Union Spotlight if you care about the future of credit unions in America.

Transformation

Digital transformation is reshaping businesses across industries. Credit unions are no exception. Moreover, many of the forces that are driving digital transformation in other industries are especially relevant to credit unions. From the ability to offer more personalized services to better engage members to enhancing processes to ensure that members’ data is secure, digital technology gives credit unions the capacity to become more efficient and serve their current members more comprehensively.

And while every credit union is unique, there are commonalities when it comes to the digital transformation journey. Here, the lessons of those institutions that have already undergone this process can be invaluable for those institutions that have just begun–let alone those credit unions encountering challenges on their path to greater digitalization.

Competition

The opportunity to grow, accelerated by digital transformation, also means that credit unions are facing greater competition than ever before. Personalization makes it easy for larger financial institutions to customize their offerings and compete with credit unions when it comes to deeply engaging with individual needs and preferences. Larger financial institutions also often have resources to take advantage of technologies faster and more thoroughly than most credit unions. This can make it easier for these bigger rivals to offer innovations to their customers before credit unions can provide similar solutions for their members.

This is to say nothing of the non-financial entities in Big Tech and Big Retail, for example, who, through innovations such as embedded finance, have begun to offer a variety of financial and banking services to their customers.

Learning more about ever-evolving member preferences is an important initial step. But following up with new initiatives, new services, and new solutions can be a key hurdle early in the process. To this end, credit union professionals owe it to themselves to learn and share strategies that have helped credit unions of all sizes better understand their members, deploy new products that are eagerly adopted, and boost engagement.

Collaboration

One of the ways that credit unions are dealing with the challenge of competition–with Big Banks, Big Tech, Big Retail–is by embracing opportunities to collaborate with innovative fintechs, many of whom specialize in serving the credit union industry. This is important. For credit unions looking for partners to help them improve back-office operations, offer a new rewards program, or fortify their defenses against fraud, teaming up with fintechs that have demonstrated interest and experience in partnerships with credit unions can make the difference between achieving digital transformation goals that may have seemed unreachable–and falling short.

To facilitate these kinds of partnerships, credit union professionals need a forum that focuses exclusively on credit unions and the fintechs that serve them. Our Credit Union Spotlight, taking place next month at FinovateFall in New York, is that forum. To learn more about joining us and participating in the session, email our registration coordinator at ella.burton@informa.com.

Photo by Jonathan Cooper on Unsplash


Views: 19

Related

If you are interested in staying updated on more trending news articles related to finance and technology, make sure to check out DeFi Daily News. Being informed can help you navigate the ever-evolving landscape of the finance industry more effectively and make informed decisions for the future.



Source link

Tags: CollaborationcompetitioncreditFinovateFallPreviewingSpotlighttransformingunion
ShareTweetShare
Previous Post

Breaking Down Nvidia’s Q2 Results and Forecast

Next Post

The Rizzler Comes to New York – Barstool Rundown – August 28th, 2024

Next Post
The Rizzler Comes to New York – Barstool Rundown – August 28th, 2024

The Rizzler Comes to New York - Barstool Rundown - August 28th, 2024

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
Changelly Collaborates with BRLA Digital and Announces Zero-Fee Campaign – Cryptocurrency Insights & Trading Guidance on Changelly’s Blog

Changelly Collaborates with BRLA Digital and Announces Zero-Fee Campaign – Cryptocurrency Insights & Trading Guidance on Changelly’s Blog

July 25, 2024
Boeing machinists refuse latest offer, prolonging bruising six-week strike

Boeing machinists refuse latest offer, prolonging bruising six-week strike

October 23, 2024
5 Crypto Experts Predict: Bitcoin is About To EXPLODE Just Like Gold!

5 Crypto Experts Predict: Bitcoin is About To EXPLODE Just Like Gold!

May 3, 2025
Bitcoin Miners Selling Bitcoin to Stay Solvent Amid Volatility in Price – Decrypt

Bitcoin Miners Selling Bitcoin to Stay Solvent Amid Volatility in Price – Decrypt

August 13, 2024
I Built The DREAM Office Setup!

I Built The DREAM Office Setup!

November 30, 2024
rewrite this title Haliey Welch Breaks Silence on Hawk Tuah Coin Collapse

rewrite this title Haliey Welch Breaks Silence on Hawk Tuah Coin Collapse

May 6, 2025
rewrite this title National Iced Tea Day Freebies 2025

rewrite this title National Iced Tea Day Freebies 2025

June 9, 2025
Should I Tell My Wife That We’re Secretly Wealthy?

Should I Tell My Wife That We’re Secretly Wealthy?

June 9, 2025
rewrite this title and make it good for SEO Leading Crypto to Buy? BlockDAG Courts the NBA While INJ, TIA, & SUI Build Momentum

rewrite this title and make it good for SEO Leading Crypto to Buy? BlockDAG Courts the NBA While INJ, TIA, & SUI Build Momentum

June 9, 2025
rewrite this title and make it good for SEOTrump’s memo activating the National Guard doesn’t specify LA. It could apply anywhere and preemptively, legal expert says

rewrite this title and make it good for SEOTrump’s memo activating the National Guard doesn’t specify LA. It could apply anywhere and preemptively, legal expert says

June 9, 2025
rewrite this title Circle made history… but what happens next

rewrite this title Circle made history… but what happens next

June 9, 2025
rewrite this title Avalanche Meme Coin Trenches Heat Up as AVAX Lambo Token Touches  Million – Decrypt

rewrite this title Avalanche Meme Coin Trenches Heat Up as AVAX Lambo Token Touches $25 Million – Decrypt

June 9, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.