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Posted: Oct 11, 2017
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Author: Lou Grilli

Should Credit Unions Renew?

[Editor's Note: This article was previously published on CU Insight and has been modified.]

It’s hard to believe that three years has passed since Apple surprised the mobile payments world by stating that iPhone 6 users can make payments with the touch of a finger, beginning on October 20, 2014. About 500 credit unions and banks were among the initial issuers who agreed to a three-year term to participate, meaning their contracts are coming up for renewal. Many financial institutions signed on shortly thereafter. According to PYMNTS.com, the terms of the contract required the issuers to give up to Apple a half penny for every debit transaction or 0.15 percent of every credit transaction conducted through Apple Pay. These fees were over and above charges already assessed by the card networks and the processors. But those financial institutions, mostly larger or forward thinking credit unions and banks, wanted to be on the forefront of what was highly touted to be the evolution to the long-awaited “year of the mobile payments.”

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Posted: Aug 2, 2017
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Author: Lou Grilli

It could happen.

There’s been lots of hype claiming that Zelle, the recently launched P2P service by several major banks and credit unions, is the “Venmo killer”, alluding to the fact that financial institutions are staving off the onslaught of tech companies looking to make inroads into the banking industry.

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Posted: Jul 27, 2017
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Back to School campaigns can be rewarding for credit unions and their members.

Back to school planning is in full swing in many parts of the U.S. Didn’t kids just get out of school? How can it be time to think about purchasing glue sticks, crayons, gym shoes, clothes, and other back to school expenses such as vaccinations, health exams and sports equipment for fall sports when it’s the middle of summer?  This time should be filled with making memories from family vacations, taking a trip to the County or State Fair, or hosting cookouts in the backyard with friends and neighbors.
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Posted: Jul 20, 2017
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Author: Tom Davis

Government also plans to use biometrics to eliminate credit and debit cards by 2020

Editor's Note: This article was previously published on CUInsight.com and has been modified.

Overnight, India, a country with 1.3 billion in population, became a predominantly cashless country, switching to mobile-based digital payments. And the government has even more ambitious plans – to eliminate credit and debit cards by 2020. How did this all happen?

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Posted: Jun 8, 2017
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Author: Paul Castner

Google's Loren Hudziak says look at what's possible and then go beyond that.

“To make technological break-throughs, we need to reconstruct the mental model we have about technology. We can’t look at technology based on how it affects what we do, in our daily lives or in the credit union industry. There are concepts people have heard of, understand somewhat, but still view them through today’s lenses, instead of a view to the future.” Google Solutions Architect Loren Hudziak gave a historic example of this concept to the 350+ credit union attendees during the 2017 CSCU annual conference.
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