PSCU Releases Fourth Annual “Eye on Payments” Study

PSCU has announced the release of its 2021 Eye on Payments study, which gauges payment preferences among credit union members, including how they have changed over the past 12 months.

NCUA 280x210This is the fourth consecutive year that PSCU has surveyed more than 1,750 credit union members and other financial institution customers nationally to explore their payment preferences.

Among the key findings in the fourth annual report, the study revealed a growing demand for a personalized payments experience. Nearly eight out of 10 survey respondents agree or completely agree that they want to do business with a financial institution that knows them personally.

This in-depth look at payment trends can help your credit union make strategic decisions and provide a better more personalized member experience. Some of the insights shared include:

• Factors that influence consumer behavior when it comes to the choice and usage of traditional and emerging payment methods across multiple payment scenarios
• How social and economic events impact payment choice
• The evolution of how consumers are interacting with their credit union or other financial institution, and how they anticipate doing so in the future
• How and why payment method preferences differ among generations and regions
• Recommendations for credit unions to better meet evolving payment preferences and member needs

You can learn more about PSCU and download the complete study here.