We’re a bit unique here at FORUM as we have an internal software development team that creates a variety of solutions at the credit union, including our own internet banking platform and mobile app. Our history is to partner with fintechs when a solution helps us address a member need, fills a gap in our product or delivery suite, or positions us to better serve members now and into the future.

Doug True and FORUM Credit Union ($2.3B, Fishers, IN) were building fintech before the industry had a name for it.

In 1998, 10 years into his tenure at the suburban Indianapolis cooperative, the now longtime CEO led the launch of FORUM Solutions, a CUSO that developed lending and digital banking tools for internal use and credit unions nationwide.

The service organization produced one of the credit union’s most notable innovation: TAPS Lending, a consumer lending platform whose scoring engine and workflow capabilities ultimately helped streamline lending operations for more than 30 credit unions.

FORUM sold the platform to Akcelerant in 2008, and the technology later became part of Temenos. At the same time, FORUM continued developing its own online banking capabilities, creating its own internet banking platform more than 25 years ago while laying the groundwork for a technology strategy that continues today.

FORUM’s early experience as a fintech builder continues to shape its approach to innovation, partnerships, and long-term value creation, balancing in-house development expertise with vendor relationships across today’s fintech ecosystem.

FORUM Solutions looks very different today than it did during the TAPS Lending era. How has the CUSO evolved over the years, and what role does it play in FORUM’s strategy today?

Doug True: We have fond memories of our TAPS Lending days and partnering with like-minded credit unions across the country.

We still internally develop our internet banking platform and mobile app today. We still see components of TAPS Lending in our Temenos solution, and we consider ourselves a power user of the Temenos platform because of the knowledge we have in-house, both lending and software development, of the platform.

We also still use the FORUM Solutions CUSO today — it’s just different business units underneath it. At the present time we have our own wealth advisory service as a registered investment adviser known as FORUM Private Client Group, currently with $440 million in assets under management. Its certified financial planners are all full-time FORUM teammates.

Another business unit under the CUSO is SafisLife, which is our financial coaching service. SafisLife is a $5 per month subscription that provides a personal financial coach and access to a high-yield savings account for emergency savings and a variety of financial planning tools.

We also have FORUM Insurance Services, which is a partnership with Insuritas and offers a full line of home, auto, umbrella, pet, business, and other insurance products and companies.

How are credit unions approaching fintech investment? Future Bets explores how leaders balance immediate needs with longer-term bets, evaluate potential partners, and define success alongside mission and member value. Read the series today.

How does FORUM approach fintech innovation and investment?

DT: We prefer to invest in our internal resources and plug in fintech products or expertise where it best fits our business plan and roadmap.

We’re a bit unique here at FORUM as we have an internal software development team — currently eight teammates — that creates a variety of solutions at the credit union, including our own internet banking platform and mobile app.

Our history is to partner with fintechs when a solution helps us address a member need, fills a gap in our product or delivery suite, or positions us to better serve members now and into the future. We have not pursued personal or collective investments into fintechs with other credit unions or CUSOs.

When choosing what to invest in, how do you balance your day-to-day business needs with longer-term strategic goals?

DT: Pivoting to our desire to partner rather than invest in fintechs, such decisions are a part of our annual business plan and ongoing planning process. It’s often a combination of solving needs and anticipating member demands. With our internal software development team, we also select partnerships where co-development and integration is a step toward mutual success.

What does success look like for a fintech investment? How does purpose play a role in your definition of success?

DT: We often define success by meeting and exceeding specific service level agreements we mutually agree upon with our partners. It’s important for both parties to understand what we’re solving with the partnership and how our members will use the solution. Integration into an overall solution or platform is an important piece for all to understand.

What’s one lesson you’ve learned about bringing along internal teams?

DT: Get the right teammates in the room from the beginning when you’re evaluating a potential partnership with a fintech. Use portal technology to share information and be transparent as to why you are evaluating a potential partnership.

Not everyone can attend each meeting, but sharing information on a portal can drive education and buy-in as to what the credit union is trying to accomplish with the partnership.

What’s one thing you’ve gotten wrong or would do differently if you started over today?

DT: It’s important to be measured in your evaluation of the fintech solution. How does it fit with your product and channel lineup? What will the member experience be like — will it be consistent for your credit union and across all channels? There are often multiple options for connectivity, so how do you integrate the solution so the member experience fits with the credit union brand to drive adoption and solidify trust?

What’s one thing fintechs consistently misunderstand about working with credit unions?

DT: We haven’t really run into any issues in this regard. It’s important for the credit union to tell its story, including the cooperative ownership structure. We enjoy partnering with fintechs and technology companies that use an Employee Stock Ownership Plan — they get cooperatives.

What’s one piece of advice you’d give a fintech about how to partner with credit unions?

DT: Do your homework on the credit union. So much data is available online. Understand why the credit union is exploring a partnership.

This interview has been edited and condensed.

The post The Long Game For Fintech At FORUM Credit Union appeared first on CreditUnions.com.

One of the greatest benefits of having a CUSO active in the fintech space is the access we get to the universe of fintech companies and the solutions they provide, along with some preliminary vetting of those companies, particularly if they’re a CURQL portfolio company. It’s also facilitated networking with other similarly oriented credit unions, allowing us to obtain unsolicited references on a variety of different solutions and companies.

Mission Federal Credit Union ($7.2B, San Diego, CA) doesn’t treat fintech as just another vendor category. Through its CUSO, Mission Federal Services (MFS), it has developed an investment approach that values both financial returns and opportunities to support long-term growth.

Through MFS, Mission Fed invests alongside peers in CURQL Collective, a network of more than 160 credit unions that pools capital and access to emerging fintech companies. That participation has widened the credit union’s visibility into the market while deepening its ties across the industry.

Doug Wright, who became president and CEO in 2024 after serving as chief financial officer, has helped guide that fintech evolution. Ron Araujo, a former Mission Fed CFO and current president of MFS, has also played a leading role in building credit union’s fintech strategy.

This interview has been edited and condensed.

How does Mission Fed approach fintech innovation and investment?

DOUG WRIGHT: Although we’ve maintained a CUSO for many years, we didn’t start using it to invest in fintechs until around 2017. Our first investment was in a startup digital banking platform and app aggregator along with a number of other credit unions.

Unfortunately, that investment has not panned out as we hoped. Subsequently, we invested relatively small amounts into a few additional fintechs before becoming aware of the CURQL funds. These have been our primary fintech investing vehicle since. We’ve made investments in both CURQL I and CURQL II funds, side investments in a few of their portfolio companies, and a few additional fintechs not in their portfolios.

RON ARAUJO: In 2016, Mission Fed decided to more fully use MFS. This initially led us into more traditional lines of business, but we eventually recognized the financial and member service opportunities with direct fintech investing. Mission Fed runs MFS as a holding company CUSO, with each of the investments being subsidiaries. To date, our journey in fintechs is only internal to Mission Fed.

How are credit unions approaching fintech investment? Future Bets explores how leaders balance immediate needs with longer-term bets, evaluate potential partners, and define success alongside mission and member value. Read the series today.

When choosing what to invest in, how do you balance your day-to-day business needs with longer-term strategic goals?

DW: From the credit union’s perspective, one of the greatest benefits of having a CUSO active in the fintech space is the access we get to the universe of fintech companies and the solutions they provide, along with some preliminary vetting of those companies, particularly if they’re a CURQL portfolio company. It’s also facilitated networking with other similarly oriented credit unions, allowing us to obtain unsolicited references on a variety of different solutions and companies.

We don’t require the credit union use the specific solutions of the companies we invest in, even if it’s a service we’re implementing. From the credit union perspective, we continue to look for fintech partners that best meet the needs of our members and Mission Fed.

If one of those partners is also a company we’ve invested in, we view that company more favorably, but it’s not a guarantee. We have several companies where we’ve done both, but we’ve made other investments where we’ve chosen another solution.

RA: For the most part, our fintech investing is based on the potential financial return that the opportunity can provide. Obviously, the main driver of a fintech’s success will be its ability to partner with many credit unions (and others), so we look more broadly at that as one consideration of investing. In some cases, this has led to the fintech partnering with Mission Fed, which generally gives the credit union a strong voice in the fintech’s development.

When those compete, which wins? How do you balance those two imperatives?

DW: From the investment perspective, we choose companies we think will provide a long-term financial benefit. As noted above, the credit union’s choice of solutions is based on our member and organizational needs and influenced by our investments but not driven by them.

What does success look like for a fintech investment? How does purpose play a role in your definition of success?

DW: Fintech investment success is primarily based on the financial return we receive. It’s a bonus if the company also provides a solution we use, particularly if we receive discounted charges. We’re also looking for companies that serve, promote, and advance the credit union industry.

RA: Because MFS does not have a Mission Fed usage mandate, success is measured by the financial return that we can realize. However, an interesting side benefit is the network we’ve developed not only with other fintechs but also with other like-minded credit unions and CUSO investors. MFS has close relationships with many other investors, and this keeps us in the loop on deal flow.

What’s one lesson you’ve learned about bringing along internal teams?

DW: Several years ago, our CUSO was not very connected to our internal credit union teams. We’ve worked hard the past few years to change that, and it’s benefited both our CUSO and the credit union. The close collaboration creates better credit union solutions and better investment selections.

RA: From my perspective as an investor working with Mission Fed, there is a great deal of passion and, more importantly, curiosity around the fintech activities of the CUSO. This is largely due to the fact Mission Fed is on its own technology journey, but it’s also a function of the teams recognizing the potential successes that technology can provide to members.

What’s one thing you’ve gotten wrong or would do differently if you started over today?

DW: I wish there had been a CURQL fund around with professional management when we first started. It’s a better way for credit unions to get their feet wet in fintech investing than to start with individual companies.

RA: MFS now has a robust network of investors and fintechs, but I would have worked much harder to develop those relationships earlier. It’s the collaboration with others that will help us continue to generate success. And nearly everyone is willing to work with you.

What’s one thing fintechs consistently misunderstand about working with credit unions?

DW: The concern I hear most frequently from fintechs is how slow the evaluation, selection, and implementation process can be. Fintech founders want to move quickly, and most credit unions are not built to do so due to internal caution, regulatory requirements, legacy technology, higher priorities, or other reasons.

Credit unions need to think about the founder’s motivations. Many are looking for an exit within a reasonable time period, which often means either selling to a larger company or going public. Both cases can change the nature of the partner relationship significantly, so credit union management needs to ensure they’re comfortable with this.

RA: As Doug already mentioned it’s the “pace of play” issue, with no close second. Fintechs need to understand credit unions are highly regulated industries with a lot of protocol. This is not largely explained to or understood by fintechs that are accustomed to a much faster pace.

On the flip side of this question, one thing credit unions consistently misunderstand about fintechs is that they need feedback to improve their product. Be open and brutally honest with fintechs; believe me, you won’t hurt their feelings.

What’s one piece of advice you’d give a fintech about how to partner with credit unions?

DW: Spend time building relationships, learning, responding, and adapting your solutions to multiple credit unions’ needs and pain points, and ensure your solutions can address those needs profitably.

RA: I explain to my fintech partners that credit unions are not competitors with one another; we share a lot about our business. So, if they’re pitching a credit union that maybe doesn’t need their product at this time, they should keep that relationship alive as it can be one of the best sources of leads.

Again, on the flip side, the most important advice for credit unions is that investing in the fintech space is not a passive investment. Your greatest success will come from being actively engaged with these startups every step of the way.

Interviews have been edited and condensed.

The post Mission Fed Weighs Fintech Returns Against Real-World Fit appeared first on CreditUnions.com.

Raymond George is on a mission to ensure all new hires at Clearview Federal Credit Union ($2.2B, Moon Township, PA) spend time in boot camp.

Artificial intelligence is a key component of Clearview’s tech toolbox, and George, the credit union’s CIO, is behind the push for all employees to log time in AI boot camp as part of their employee onboarding experience.

“People want AI to do ‘big bang’ things — replace programmers or answer calls,” George says. “Can it assist in all of that? Yes. But it’s not going to replace your people and do everything for you.”

Clearview has put into place a variety of AI tools — including enterprise access to Microsoft’s Copilot; Jasper, an AI-based marketing tool; and LuLu, a lending intelligence solution from ZestAI — and is rolling out site licenses for Claude soon. It also put guardrails around how staff access and use those tools and partnered with tech agency Problem Solutions to roll out four-hour boot camps for senior management and two-hour training for the board.

The curriculum provided an academic understanding of AI tools and a pragmatic look at the overall landscape and how to get the best results. The management team’s training included a brief history of AI and a review of tools but was largely focused on how to choose the right tool for the task at hand and how to design prompts. It even introduced the acronym IMPACT — Intent, Message, Persona, Audience, Context, and Tone — to help craft better AI prompts.

Of course, the boot camp emphasized the importance of human participation, too.

“As a human, you’ve got to bring something to the table,” George says. “Don’t just take the result and say, ‘This is perfect and ready for prime time.’ You have to review it.”

Another Tool In The Box

After successful sessions with the management and board, Clearview expanded the education to all staff and incorporated it into employee onboarding. Rather than offer an in-depth training at the outset of employment, the credit union divides the material into hour-long sessions that focus on how to choose the right tools to use for specific functions, how to build better prompts, how to interact with AI, and how to identify AI’s shortcomings and validate the information it returns.

“It’s no different from teaching somebody how to use the core,” George says. “This is another tool. It’s an internet tool; it’s not this big, mysterious thing.”

Clearview’s leadership has leaned into AI both for its day-to-day productivity gains and for what it means for staff over the long term.

“The younger generation coming out of college has AI as part of their curriculum, and we want to future proof our current staff with this technology,” George says. “AI might not take your job, but somebody who knows how to use AI probably will.”

Lessons From Previous Tech Revolutions

Clearview is training its entire staff on AI because it affects the entire workforce. Multiple employees across departments are already using it, and they are sharing successes with one other.

“I don’t want to say there’s peer pressure,” George says. “But they’re seeing what others are able to do, and it’s really helped fuel adoption.”

While acknowledging AI’s massive potential, George noted it’s simply another technological revolution following the rise of personal computers and, later, the internet. But unlike those earlier shifts, AI arrived without a clear cost of entry or gatekeepers. It largely became available to everyone at once for free.

“If companies think they can control this as much as they could other evolutions, they probably can’t,” the CIO says. “So let’s embrace it, understand it, demystify it, and have it work for us so we can be good corporate AI users and not be afraid of this tool.”

Equip your team to lead through disruption. AI is one wave in a longer tide of technological change, and the credit unions that navigate it best will be the ones whose leadership teams share a common framework for evaluating and acting on disruption. Disruptive Strategy for Organizations, offered by Callahan & Associates in collaboration with Harvard Business School Online, gives your executive team exactly that. Learn more.

Benefits And Lessons Learned

Clearview uses AI for both internal and external functions, and George says it has been a key driver for increasing personal productivity. That includes anything from speeding up writing job descriptions — “It used to take half a day, now it takes about 34 seconds with a couple of tweaks here and there to the correct prompt,” he says — and summarizing accomplishments to prepare for reviews to looking for patterns within different data sets and analyzing internal chats to improve member experience.

The most effective thing Clearview has done, George says, is to explain AI tools in a way that gives staff the confidence to use them. A few evangelists — including information security and IT leaders — held what George called “a road show,” attending multiple department meetings to field questions from associates at all levels.

“This is a new tool,” George says. “There are no experts at Clearview; we’re all learning this together. But we’re giving the framework and the structure so employees can learn to use it and be more productive.”

And, he adds, use cases are only going to grow.

“The staff has adopted it because we’ve demystified it,” he says.

The post AI Boot Camp Is More Than Basic Training At Clearview FCU appeared first on CreditUnions.com.

MONTH-OVER-MONTH REAL WAGE GROWTH
FOR U.S. EMPLOYEES | DATA AS OF MAY 2026
SOURCE: Bureau of Labor Statistics

Strategic Insights

• According to the Bureau of Labor Statistics, from May 2025 to May 2026, real average hourly earnings decreased 0.7 percent, seasonally adjusted. Combined with an increase in hours, many employees are now working longer for less inflation-adjusted pay.
• At the close of 2025, wages appeared to finally outpace inflation, making up for the 2021-22 inflationary period; however, a renewed rise in the consumer price index beginning in early 2026 pushed many households behind again.
• For credit unions, this could mean reduced deposits and more members falling behind on loan payments, especially in credit cards where higher prices show up most directly.
• Credit unions are well-positioned to support members through this period. Refinancing opportunities can help those paying off high-interest loans elsewhere, whereas competitive savings rates can attract deposits and help members pad their pocketbook.

Don’t stop here. Americans are anxious about a range of economic challenges — from gas prices and housing costs to healthcare expenses and uncertainty around artificial intelligence. Even after a decade of moderate to strong GDP growth, many remain dissatisfied with the economy. It’s possible partisanship or media consumption distorts sentiment indices, but a breakdown by income shows those with modest means are the hardest hit by inflation and the most pessimistic. Callahan & Associates clients can read more today in the client portal. Read more.

The post Stable Economy. Strained Households. appeared first on CreditUnions.com.

Produced and sponsored by: 

The post How Credit Unions Are Rethinking Loan Payments appeared first on CreditUnions.com.

Strategic value doesn’t justify overpaying. If anything, strategic investors should demand better terms than financial investors because we bring more than capital. We bring scale, validation, distribution, and product insight. When we let fintechs treat us as just another check, we underprice our own value.

Credit unions of all sizes and stripes have long invested in fintech and other ventures through CUSOs, venture funds, and other structures. The savviest of these member-owned financial cooperatives use these investments to improve member experiences, strengthen operations, and shape the future of financial services.

The result is credit union fintech investment strategy approach that is grounded in mission as much as market opportunity. Ben Lemoine, CFO at Suncoast Credit Union ($20.5B, Tampa, FL) and board treasurer of Suncoast LaunchPoint Ventures (SLV), shares how the team evaluates opportunities and measures results in its approach to fintech investments and other partnerships.

How does Suncoast Credit Union approach fintech innovation and investment?

Ben Lemoine: SLV is our innovation and diversification platform. It’s Suncoast’s wholly owned, CUSO-holding company for our subsidiary businesses, partially owned ventures, and fintech investments.

Our role is to deploy capital intelligently. Sometimes that means building, sometimes acquiring, and sometimes investing alongside other strategic partners.

Through SLV we identify, acquire, and manage business ventures that align with the credit union’s mission and generate member value.

Our current SLV portfolio includes wholly owned independent businesses — including an insurance agency, title company, and realty company that have served members for decades; a growing fintech investment portfolio focused on technologies that enhance member engagement, payment experiences, financial wellness, and operational efficiency; and new investment and acquisition opportunities across insurance, real estate, lending, and technology.

We approach fintech innovation with discipline. The best partnerships happen when timing and fit align.

How are credit unions approaching fintech investment? Future Bets explores how leaders balance immediate needs with longer-term bets, evaluate potential partners, and define success alongside mission and member value. Read the series today.

When choosing what to invest in, how do you balance your day-to-day business needs with longer-term strategic goals?

BL: In general, we love for SLV to invest in businesses the credit union will onboard as a service and create that alignment. Both pain-point investments and strategic bets have a place in our portfolio, and we deliberately balance the two. We’ve structured SLV to give us flexibility to pursue both.

For near-term priorities such as fraud, lending efficiency, onboarding, and member engagement, we’re often better served through vendor relationships or partnerships rather than equity investments. Vendor relationships offer clear ROI, defined SLAs, and exit flexibility. Equity investments commit us to a longer journey with less certainty.

For strategic bets, we look for opportunities where our scale — more than 1 million members and a strong Florida presence — makes us a valuable partner beyond the capital we contribute. When we invest, we’re committing to deploying, validating, and helping to shape the product.

When the two compete, strategic fit and timing tend to win over urgency. We’ve passed on investing opportunities that solved real, near-term problems because the structure, valuation, or timing didn’t work. We’d rather solve a near-term problem through a vendor and invest strategically when the right opportunity emerges.

What does success look like for a fintech investment? How does purpose play a role in your definition of success?

BL: Success for us is multi-dimensional, and it absolutely differs from a typical vendor relationship. For fintech investments, success requires three things to align. First, strategic value. Did the partnership create capabilities, insights, or member experiences we couldn’t have built or bought alone? Second, mission alignment. Did the investment ultimately serve members and the credit union movement or just produce financial returns for the institution? Third, financial return. Did our capital generate appropriate risk-adjusted returns, recognizing this is venture-style risk?

Purpose plays a significant role. An investment that produces strong returns but doesn’t benefit members or the credit union ecosystem would be a hollow success. An investment that improves member outcomes can still be a meaningful win even if the returns are modest.

We measure success through a balance of financial metrics (IRR and dividends), strategic metrics (capabilities gained, member adoption, network effects), and mission metrics (impact on the broader credit union community).

What’s one lesson you’ve learned about bringing along internal teams?

BL: Don’t underestimate the operational bandwidth required to evaluate, integrate, and benefit from a fintech investment.

It’s easy for executives to get excited about an investment opportunity, but execution depends on teams who already have full plates. If an investment requires technology integration, deployment, compliance review, and member experience design, and your teams are deep in other initiatives, the investment becomes a source of frustration rather than value.

Before committing capital, we ask whether we have the bandwidth to deploy it and capture value. If not, we should delay the investment, scope down our involvement, or pass entirely.

When we do commit, we align internal teams early. Investments work best when the people who will ultimately use, integrate, or evaluate the technology have a voice in the decision, not just executive leadership.

What’s one thing you’ve gotten wrong or would do differently if you started over today?

BL: Discipline on valuation, particularly for strategic investments. Early on, there’s a tendency to view strategic investments differently from financial ones, to say, “This is strategic, so we don’t need to be as disciplined on valuation.” That’s a mistake.

Strategic value doesn’t justify overpaying. If anything, strategic investors should demand better terms than financial investors because we bring more than capital. We bring scale, validation, distribution, and product insight. When we let fintechs treat us as just another check, we underprice our own value.

We approach every investment with the same valuation discipline regardless of strategic narrative. If the valuation is too rich, we might walk away. Strategic partnerships should reflect what each party brings.

What’s one thing fintechs consistently misunderstand about working with credit unions?

BL: Credit unions are not just smaller banks, and we don’t make decisions on the same timelines or for the same reasons.

Fintechs often approach credit unions with a bank sales playbook: heavy emphasis on technology features, competitive positioning against incumbents, and pressure to close quickly. That misses what actually drives credit union decisions.

We’re member-owned, mission-driven institutions. Decisions are made through committees and boards composed of members and community representatives, not just executives optimizing for shareholder returns. We often move more slowly than fintechs would prefer because we’re focused on serving members well.

We also operate in a regulated environment with NCUA oversight. Compliance, privacy, and risk management are foundational. Fintechs that treat regulatory requirements as obstacles rather than design constraints will struggle to scale in our market.

The best fintech partners understand this and design their go-to-market accordingly. They engage early, build relationships before they need them, and respect the governance processes required to make sound institutional decisions.

What’s one piece of advice you’d give a fintech about how to partner with credit unions?

BL: Build for the long term, not to close the sale.

The fintechs that succeed treat partnership as the beginning of a relationship, not the end of a sales cycle. They understand how credit unions operate, account for the work required to implement new solutions, and help solve problems even when there’s no immediate revenue in it for them.

Aside from that, lead with member value, not technology features. We don’t get excited about AI or platform architecture. We get excited about how you help our members live better financial lives. Translate your value proposition accordingly.

Be transparent about your business model and financials. Credit unions evaluate partners based on long-term stability, not just innovation. If you’re growing fast but burning cash, explain your path. We can’t make good partnership decisions without understanding your trajectory.

Finally, engage the credit union ecosystem, not just individual institutions. The credit union movement is collaborative by nature. Build relationships through CUSOs, peer networks, and industry organizations.

This interview has been edited and condensed.

The post Fintech Grounded In Mission As Much As Market Opportunity appeared first on CreditUnions.com.

Callahan’s quarterly snapshot brings together the latest reporting, analysis, and coverage, giving credit union leaders a clear point of reference to assess performance and refine strategies for the months ahead.

Credit Union Performance Reports

Callahan’s Market Snapshot and Two-Year Financial Statement equip credit union leaders with the tools they need to be more informed stewards of members’ money.

TAKE A CLOSER LOOK. DOWNLOAD THE REPORT.

Cost Pressures Are Changing Member Behavior

First quarter data shows how rising costs are pushing consumers toward flexibility and reshaping borrowing and saving habits. Watch the video today.
 

Quarterly Performance Webinar

Watch the recording of Callahan’s quarterly Trendwatch webinar for a data-driven look at where credit unions are gaining strength and where pressure is building. Callahan’s team breaks down what the latest performance data means for the months ahead. Watch Trendwatch 1Q26 on demand.

Quarterly Performance Coverage

5 Takeaways From First Quarter Credit Union Performance Data: Inflation, war, and uncertain futures have reshaped members’ needs in 2026. What does credit union performance data from the first quarter of 2026 say about household budgets, inflation pressures, and more? Read more.

Wages Are Growing. Wallets Are Not.: Global events are flowing directly into household budgets, reshaping how credit union members save, borrow, and cope. Such trends don’t always show up in headline data. Read more.

Credit Unions Are Having A Margin Moment: Credit unions are benefiting from a rare margin advantage as loans reprice slower than deposits. The question now is how institutions will use that strength to better serve members. Read more.

Where Have All The Members Gone?: Membership growth is slowing, but financial activity is not. What does the modern financial relationship look like? Read more.

Quarterly Performance Coverage: Client Content

Higher Prices, Stable Jobs, Thinner Wallets: Credit unions might be purpose-built to serve their members and communities, but they do not operate in a vacuum. Broader economic forces shape the financial realities members face every day. When prices rise or uncertainty increases, those pressures eventually influence how members save, spend, and manage debt. Read more.

The Earnings Window Is Open. Are Credit Union Doors?: Prices are high, confidence is low, and the outlook is unsettled. Even so, credit unions are benefiting from strong margins and resilient earnings. The question now is how they will use that strength to better serve members. Read more.

Membership Trends Are Rewriting Credit Union Math: Millions of new members joined the cooperative credit union system during and immediately after the pandemic, driven by digital adoption, consumer dissatisfaction with large banks, and an unusually strong lending and savings environment. It was a time of easy growth, but times are changing. Read more.

Let’s Review Your  Performance Together. Join Callahan for a complimentary 1:1 session to analyze your performance reports using key insights from second quarter performance data. We’ll benchmark your credit union against two to three peer groups of your choice and provide a detailed report of our findings at the end of the session to help your team make informed strategic decisions. Request now.

See You Next Quarter! CreditUnions.com updates this page with fresh credit union data every quarter, so don’t forget to come back for insights into the second quarter of 2026.

The post Industry Intelligence For Credit Union Leaders appeared first on CreditUnions.com.

Looking for deeper peer context behind performance trends? Power up your performance analysis with a free 30-day Peer Suite Premium trial from Callahan & Associates. Learn more today.

The post Cost Pressures Are Changing Member Behavior appeared first on CreditUnions.com.

If the fintech has what appears to be a novel idea, we’ll bring it back to WSECU for consideration. We’re often surprised by ideas we hadn’t considered yet, meaning we didn’t realize a pain point even existed until we investigated it further.

Washington State Employees Credit Union ($5.1B, Olympia, WA) began its venture into fintech investing in classic financial cooperative fashion: standing up a new way for members to access responsibly priced and managed short-term loans.

Now the Evergreen State institution has evolved from building and operating its own CUSOs —  including the payday-loan alternative pioneer QCash Financial and a mortgage origination and servicing company — to investing through a dedicated CUSO holding company that backs innovative ventures focused on helping credit unions solve member and operational challenges.

Paul Kirkbride, chief operating officer for WSECU and CEO of its CUSO holding company, One Washington Financial (OWF), shares how the organization approaches fintech investment and partnership.

How does WSECU approach fintech innovation and investment?

Paul Kirkbride: WSECU got started in the CUSO/fintech space with QCash Financial, which offered a payday loan alternative product for credit unions. The solution started as a loan product built specifically for WSECU’s members, but we soon expanded it to dozens of other credit unions through a CUSO. We also owned a mortgage origination/servicing CUSO for several years.

We exited both of those in 2023 and stood up OWF our holding company, to make investments in CUSOs that solve credit union pain points in new and innovative ways.

How are credit unions approaching fintech investment? Future Bets explores how leaders balance immediate needs with longer-term bets, evaluate potential partners, and define success alongside mission and member value. Read the series today.

When choosing what to invest in, how do you balance your day-to-day business needs with longer-term strategic goals?

PK: Technically, OWF’s main charge is to extend WSECU’s current strategies through our CUSO investments, but we go beyond that now given today’s rapid pace of change and fluid expectations.

If the fintech has what appears to be a novel idea, we’ll bring it back to WSECU for consideration. We’re often surprised by ideas we hadn’t considered yet, meaning we didn’t realize a pain point even existed until we investigated it further.

We haven’t struggled finding a balance between “run the business” and “future bets,” and having a good balance helps to diversify our risk.

What does success look like for a fintech investment? How does purpose play a role in your definition of success?

PK: Success means you’re solving a credit union or member pain point — current or future — and the CUSO can achieve a strong financial return when compared to alternative investments. We’d call this direct value. We also look for indirect or intangible value, such as improved service scores, efficiency gains, new connections, and influence over product design.

Being a design partner is probably one of the greatest advantages to being a CUSO investor. We always seek win-win partnerships with our vendors, but being an owner gives us a chance to create added value for all parties.

Purpose is deeply important to us. We want to work with partners who are committed to working with credit unions and their members and align to our values and our industry’s values. It drives our decision-making.

What’s one lesson you’ve learned about bringing along internal teams?

PK: I could write an entire paper on this question. At a credit union, executable innovation can’t happen in a silo. You need the rest of the organization aligned to assess, approve, test, train, and launch all the great ideas you generate or discover. You also need the credit union’s leadership team, at all levels, supporting your efforts versus believing you’re competing with them for the same resources.

To help with this, we leverage the talent inside of the credit union from the start. For example, if OWF meets with a CUSO that’s solving a lending problem, we bring in our lenders. Do they think this product solves an industry problem? Will they use the product or service as a client? Does the pricing make sense? Will they champion its implementation?

It’s fun to see their faces light up over a solution that solves a real issue, and it’s also telling when they seem completely disinterested. OWF never forces a solution on WSECU. The team that owns that specific product or service lane always has the final say.

What’s one thing you’ve gotten wrong or would do differently if you started over today?

PK: Finding a way to reduce the duplication of investment due diligence and vendor onboarding requirements. Although WSECU wholly owns OWF, OWF must operate independently when it comes to decision-making, so we created our own investment due diligence process.

Throughout the review process, we’re gathering many of the same things the credit union will likely need to gather later. At first, we didn’t have a process to share that information, so our CUSOs were getting hit up with duplicate requests — first from OWF as an investor and then WSECU as a client. We wasted a lot of time.

The other thing I’d add is the need for dedicated resources, which we didn’t add until year two. If you’re hoping you can tap one of your current executives to do all this, in addition to their day job, you might be overestimating their capacity or underestimating the work. We currently have two full-time employees at OWF and are now adding a third.

Without this team, which includes Scott Daukas, our chief partnership officer, and Amy Schultz, our director of fintech engagement, I don’t think we would have made much progress. Their backgrounds — Scott having been a former credit union executive and CUSO board member and Amy having been a fintech founder — are complementary and give us added confidence in our decision-making, relationship-building, risk-taking, and performance-monitoring.

What’s one thing fintechs consistently misunderstand about working with credit unions?

PK: Credit unions can be quite slow at making decisions, working through contracts, and implementing new solutions. Some of this is risk aversion, some relates to being overloaded — trying to do too much — and some of this is simply a prioritization issue. Long sales cycles, followed by long implementations.

Founders, on the other hand, are accustomed to a faster pace, with rapid decision-making, higher risk tolerances, and fewer distractions. So, when just starting out in our industry, they’re often surprised and frustrated by what they encounter.

And if they need to show traction quickly — signed clients and revenue — that pressure can be rough on them, and in turn, they might begin to pressure the credit union to move faster. That rarely helps the situation, and it can damage the relationship.

Of course, credit unions do need to move faster — we’ve invested heavily in doing that at WSECU — but founders also need to understand credit unions are highly regulated, with lots of moving parts and several concurrent priorities. Both sides need to be realistic from day one about timelines.

By the way, credit unions often misunderstand fintechs, too. When I asked Scott for his thoughts on this, he said, “Credit unions need to have strategies, systems, and frameworks in place long before engaging with a fintech, as the absence of a fintech strategy and related preparation can lead to paralysis when a decision is actually needed.”

What’s one piece of advice you’d give a fintech about how to partner with credit unions?

PK: Be authentic, put your motivations on the table right away, and always start with your “why.” There’s a reason you do what do, and we’re investing in people as much as we’re investing in a solution. Oh, and be realistic with your projections.

This interview has been edited and condensed.

Solving the right problems requires the right strategic tools. The credit unions best positioned to act on fintech opportunity are the ones whose leadership teams share a common language for evaluating change. Disruptive Strategy for Organizations, offered by Callahan in collaboration with Harvard Business School Online, gives your team that shared framework. Learn more today.

The post WSECU Invests In Innovation To Solve Pain Points appeared first on CreditUnions.com.

It isn’t an either/or decision between solving today’s challenges and making longer-term bets. The strongest opportunities do both. We look for investments that can address immediate priorities, such as reducing fraud or improving the member experience, while also aligning with the broader strategic direction of the organization.

It’s fitting that the world’s largest university-based credit union is also a front-runner in fintech incubation and innovation. That’s the reputation Michigan State University FCU ($8.5B, East Lansing, MI) has built through The Lab at MSUFCU and its wholly owned CUSO Reseda Group.

The service organization partners with cutting-edge fintech solutions to develop an array of apps and products that include financial literacy and planning tools, sophisticated communication platforms that connect credit unions and their members, digital marketing solutions, and more.

Sara Dolan, CFO of both MSUFCU and Reseda Group, and Benjamin Maxim, the credit union’s chief technology officer, share how the organization approaches fintech investing, development, and partnerships.

How does MSUFCU approach fintech innovation and investment?

Sara Dolan: We formally launched our fintech investment efforts in 2021 with the creation of Reseda Group. Prior to that, the credit union had established an innovation team to support this work.

Ben Maxim: MSUFCU’s fintech journey began in the early 2000s with a focus on digital service, starting with a member-centric website and evolving into internally built online banking and mobile apps.

Over time, the approach shifted from primarily building in-house to partnering more intentionally with providers like Visa and Jack Henry, using those relationships to test and innovate. The Lab at MSUFCU formalized how we evaluate and pilot fintech solutions.

As those partnerships matured, many fintech companies required funding to scale, which led to the creation of Reseda Group.

Reseda was designed with a dual purpose: bring MSUFCU-built technology to market and invest in fintech partners. This model also supported diversification ahead of anticipated revenue changes tied to asset growth.

How are credit unions approaching fintech investment? Future Bets explores how leaders balance immediate needs with longer-term bets, evaluate potential partners, and define success alongside mission and member value. Read the series today.

When choosing what to invest in, how do you balance your day-to-day business needs with longer-term strategic goals?

SD: It isn’t an either/or decision between solving today’s challenges and making longer-term bets. The strongest opportunities do both. We look for investments that can address immediate priorities, such as reducing fraud or improving the member experience, while also aligning with the broader strategic direction of the organization.

BM: We built Reseda around a simple idea: we only invest in solutions we plan to use at MSUFCU. We’re not looking to make purely financial or speculative bets. We focus on partners that are directly relevant to our business and our members.

We start by partnering, not investing. Through The Lab at MSUFCU, we pilot solutions and scale what works. Continued investment depends on operational performance and adoption.

We also take an active role by holding board seats and working closely with these companies. That allows us to help shape their roadmaps and build solutions that are more practical and aligned with what our members actually need.

What does success look like for a fintech investment? How does purpose play a role in your definition of success?

SD: For us, progress is a strong indicator of success. Because we invest in solutions we actually use, success is not abstract. It shows up in how those products perform in our day-to-day operations.

We evaluate fintech partners much like any vendor: are they solving the problem and delivering the service and reliability we expect?

Where it differs is the level of engagement and alignment. With investment partners, we have a deeper role in shaping direction and success also includes their ability to grow, scale, and deliver value more broadly over time.

Financial return matters but is not the primary measure. We look at operational impact, member experience, and how well the solution advances our broader strategy. Purpose plays a key role in that. The partners we choose need to align with how we serve our members, not just what they can deliver financially.

BM: Financial return is a positive outcome, but it doesn’t drive decisions.

We focus on the value the solution brings to MSUFCU. That could be usage, contract savings, intercompany revenue, or overall impact on our members. Those things matter more to us than financial upside.

Mission alignment is also a big part of it. We want to make sure we’re investing in solutions that fit how we serve our members and where we’re going as an organization. In most cases, by the time we invest, we’ve already been a client and seen some level of traction.

If something isn’t working, we’ll step back and determine whether to adjust or unwind it. Generally, our goal is to help these companies succeed because when they do well, it directly benefits our members and the credit union.

What’s one lesson you’ve learned about bringing along internal teams?

SD: Our process has matured quite a bit over the past five years. We’ve learned to ask better questions and run stronger pilots.

BM: You can’t treat this as a side project. We’ve tried that and it only goes so far. There’s a level of commitment and focus required if you want to do this well.

At the same time, not every internal team is set up to operate in a startup fintech environment. The pace is different, the expectations are different, and even due diligence needs to reflect how early-stage companies actually operate.

Part of what we learned is that you have to be intentional about how you bring teams along. Creating Reseda as a separate structure allowed us to put the right mindset and operating model around this work so we could move faster and think more entrepreneurially without forcing that approach across the credit union.

What’s one thing you’ve gotten wrong or would do differently if you started over today?

SD: Financial services continue to evolve rapidly, creating new opportunities to serve members. If we were starting over, we would continue to focus on balancing member needs with disciplined investment decisions.

BM: I think we would be much more disciplined early on about what we chose to pursue. In the beginning, there was so much interest and so many opportunities coming our way that it was easy to say yes to too many things.

We learned not everything that looks interesting or promising fits where we need to go. Today, we spend more time making sure opportunities are aligned to our roadmap and that we have the capacity to make them successful.

What’s one thing fintechs consistently misunderstand about working with credit unions?

SD: The level of regulatory expectations and documentation required to work with a credit union. There’s a lot that goes into ensuring compliance, and it can be more complex than they initially expect.

At MSUFCU and Reseda, we try to help bridge that gap by sharing those expectations early and supporting fintechs as they navigate the process. Setting expectations early creates a stronger partnership and better long-term outcomes.

BM: How mission-driven credit unions are. A lot of fintechs come in thinking about growth, exits, and financial returns. That matters, but we’re looking for solutions that are going to be here and support our members over the long term. We’re not trying to implement something and then replace it a couple years later.

Another piece is the sales cycle. There’s often an assumption that it will move quickly, but credit unions take time. There’s a lot of diligence, a lot of alignment, and we’re going to ask a lot of questions before we move forward.

From the outside, that can feel slow. But from our perspective, it’s about making sure we get it right for our members and that we’re bringing in partners we can rely on.

What’s one piece of advice you’d give a fintech about how to partner with credit unions?

BM: Be thoughtful about how you engage and where you spend your time. Credit unions can take a while to make decisions, so it’s important to make sure you are working with people who have the ability to move something forward. If you’re not getting that signal, it’s OK to pause and come back later rather than overinvesting in a sales cycle that might not go anywhere.

Things like data, cost of acquisition, or even how value is measured can vary, and that can make it harder to tell your story if you’re expecting clean inputs.

The most effective fintechs adjust to that and speak to a few different perspectives at the same time. You’re usually addressing three mindsets: a finance lens around value and return, a member experience lens around how this improves service, and a technology lens around how it integrates and operates. Connecting across all three increases traction.

SD: Do your homework and take the time to understand your audience. That means learning how credit unions operate, including the regulatory environment, and being clear on how your product fits within those expectations.

When fintechs come in with that foundation, it makes the conversation much more productive and builds trust early on. It shows you’re serious about partnership, not just about making a sale.

Building a fintech strategy that lasts takes more than good instincts. MSUFCU’s structured, purpose-aligned investment model reflects the clear-eyed thinking Disruptive Strategy for Organizations develops. Offered by Callahan in collaboration with Harvard Business School Online, this executive team learning program gives leaders a shared framework for turning disruption into competitive advantage. Learn more today.

The post How MSUFCU Builds And Backs Fintech Solutions appeared first on CreditUnions.com.