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Payments Innovation Lowers CU Member Churn
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Credit unions (CUs) are finding that investing in payments innovation can significantly reduce member churn. A study reveals that top-performing CUs are benefiting from lower member churn by investing 13% more in payments innovation, while less innovative CUs face budget constraints hindering their ability to bring payment innovations to market.
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How can credit unions ensure they invest enough in payments innovation to attract and retain members?
In what ways might the success of payments innovation in credit unions impact the broader financial industry?
What strategies can less innovative credit unions employ to overcome budget constraints and bring payment innovations to market?
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