Digital Innovation Opens Doors for Credit Unions to Broaden Membership

Why Credit Unions Must Embrace the FinTech Ecosystem: Plane Saver Credit Union’s Chief Operating Officer, Gurminder Bhagrath

At FFNews, we recently spoke with Gurminder Bhagrath, the Chief Operating Officer for Plane Saver Credit Union, to learn more about how FinTech partnerships are disrupting the way modern credit unions work. In a financial world moving at the pace of digital innovation, Gurminder pushes against the dated “build vs buy” mindset and believes it is critical for institutions to take an ecosystem approach to FinTech adoption. Plane Saver adopted a plu…

Digital Innovation Opens Doors for Credit Unions to Broaden Membership

Credit unions (CUs) face a critical juncture that threatens their long-term viability. [contact-form-7] Baby boomers dominate CU membership, making up 39% compared to 31% for millennials and Generation Z combined, and the average CU member age stands at 53 — older than the U.S. average of 38.5. This puts CUs at risk of losing ground to other financial institutions. To gain younger members, credit unions must focus on digital and mobile …