Click here for more information and to register for round one on October 27th.… Read more
News & Highlights
A Dozen Lessons Learned in Credit Union Collaborations By Guy Messick
In my thirty years of forming credit union collaborations, I have come to see common lessons, especially in multiply owned CUSOs providing one or more back office operational services. I examine twelve of those lessons in these types of CUSOs. (more…)
Events
2021 NACUSO Network Conference
Save the Date! We are excited to announce that our 2021 NACUSO Network Conference is scheduled to be at the Encore Resort in Las Vegas. We are already starting to plan for next year’s event and we look forward to seeing everyone in person. The beautiful Encore Resort is open and they have taken extra precautionary measures to make sure it’s safe for guests to enjoy their stay. Please save the dates of March 29-April 1 and check our conference site soon for more details at www.NACUSONetwork.com.
If you were registered to attend, or sponsor at our 2020 conference in Orlando, we can automatically apply your registration or sponsorship fees to our 2021 Conference in Las Vegas. We will contact you soon to give instructions on the next steps and will work with you on the new options that work best for you. If you have any questions, please contact Shawna Luna at Shawna@nacuso.org.
NACUSO Network Conference Update
Unfortunately due to the events surrounding the coronavirus, the 2020 NACUSO Network Conference, originally scheduled in April has been canceled. As we all navigate the ever-changing reality of our day to day work and personal lives, our first thought is for the safety and well-being of our members, partners, staff and conference participants. We will be sending information soon with information to all conference participants with updated information and options regarding the next steps. More details as they become available will be on our conference website at https://www.nacusonetwork.com.… Read more
2019 Next Big Idea Winner & CUSO of the Year Winners
The 7th annual Next Big Idea winner is Zogo Finance. Bolun Li, Founder of Zogo began his presentation by asking the attendees to raise their hand if they had teenagers, now or in the past. And then he did an amazing job explaining to a room full of parents how his product can both educate and motivate teenagers. A daunting task to be sure. Zogo received 55% of the audience’s votes to claim the victory. Click here for photos and to watch his post-victory interview with Mike Lawson, CUbroadcast.
Click here to see photos and read about who the winners of this year’s CUSO of the Year and New CUSO of the Year Awards were.
CUSOs in the News
Alacriti Announces Cloud-Native, End-to-End Solution for Real-Time Payments
Helping financial institutions deliver faster payment experiences
Alacriti, a fintech company specializing in payments today announced its Cosmos for RTP solution, powered by the Orbipay Platform. Cosmos for RTP enables banks and credit unions to quickly and seamlessly connect to The Clearing House’s RTP® network and deliver innovative real-time payment services to their customers. Alacriti’s solution allows financial institutions to rapidly leverage the power and convenience of RTP to drive new revenue without the burden of significant infrastructure overhauls or capital investments.
“We are seeing banks and credit unions under more pressure to deliver differentiated customer experiences – like real-time payments – that are a reflection of how today’s businesses and consumers want to bank. Innovative solutions like Alacriti’s Cosmos for RTP enable financial institutions of all sizes to be ahead of the curve in terms of delivering the instant payment services today’s account holders want,” says Erika Baumann, Senior Analyst, Aite Group.
COVID-19 Drives Surge in Digital Adoption in 2020
PSCU releases third annual Eye on Payments study focusing on shifts in consumer payment preferences
PSCU has announced the release of its annual Eye on Payments study. For the third year in a row, the nation’s premier payments CUSO set out to gauge payment preferences among credit union members and other financial institution customers (“non-members”) and how they evolved over the past year. Through this annual research, PSCU explores the factors that influence consumers when it comes to their choice and usage of different payment methods, how these factors may vary among different life stages and economic events, and how credit unions can better serve their members and optimize their offerings to adapt to these evolving preferences and needs.
Virtually no aspect of the economy has remained untouched by COVID-19, and the payments industry is no different. The majority of respondents in the Eye on Payments study reported they make decisions about how they will pay for something primarily based on which payment option is the most physically safe at the point of sale. In line with this finding, the number of survey respondents – credit union members in particular – who say they shop online at least a few times a week increased significantly. Respondents also reported increased usage of mobile apps and online platforms to order ahead for grocery or food pick-up or delivery, with most respondents indicating they expect to continue using these channels post-pandemic, signifying long-term behavioral impacts.
“While we knew the pandemic was certainly impacting consumer payment needs and behaviors, our Eye on Payments study showed just how ubiquitous the impact was across all demographics and purchasing situations,” said Tom Pierce, chief marketing officer at PSCU. “This year’s study also revealed a significant increase in penetration and usage of contactless cards, likely driven by consumers’ desire for ‘clean’ forms of payments that limit human contact. In line with that impact, we also saw an increase in mobile wallet usage and digital banking.”
