Offering members core digital transaction services such as online and mobile banking, online payments and online loan processing.
In 2014, World Council of Credit Unions set a goal of reaching 260 million credit union members worldwide by 2020.
Through a concentrated worldwide effort, credit unions were able to reach our "Vision 2020" goal by 2017. But that growth was not even across all countries or among all credit unions. The credit unions that grew were those that offered core services via online and mobile channels. That is why we are now addressing how we increase membership going forward—through the digitization of the global credit union system by 2025.
World Council will measure the digitization of credit unions in four key areas and report annually on the progress being made toward Challenge 2025.
Track the latest developments in digitization by subscribing to our Challenge 2025 Blog. You can also send us updates on how your credit union or credit union system is striving to help us meet Challenge 2025 at email@example.com.
On September 7, 2021, El Salvador became the first country in the world to legalize Bitcoin as a parallel currency to the U.S. Dollar, which has been legal tender in the Central American country since 2001.Read More
In 2020, we experienced not only a health crisis caused by COVID-19, but also the economic fallout of the pandemic. Everywhere around the globe it has accelerated change in the credit union paradigm. It does not change our credit union values. It does change how we serve our members.Read More
The following post is provided by Origence, a financial technology provider dedicated to creating new approaches to the loan origination experience, and a brand of CU Direct—a World Council associate member.
The old debate over the primacy of best-of-breed tech stacks versus an all-in-one platform was resurrected during the global pandemic. As the industry struggled to keep up with unexpected loan volume, many of the new systems lenders had put in place over the past few years didn’t meet their expectations.
The following post is provided by the Association of British Credit Unions Limited, World Council's direct member association in Great Britain.
ABCUL Chief Executive Robert Kelly officially launched Vision 2025 at the ABCUL Annual Conference in March 2020 and work on delivering its aim is well underway.
This post is provided by Sicredi, World Council's direct member association in Brazil.
Every day there are new types of scams and fraud on the internet. With the current pandemic scenario, we have seen a large number of people migrating their financial lives to the digital environment and, with that, there has been a major increase in the activity of cyber criminals. To help members protect their accounts, here are some tips we've prepared to make them more secure.
This post is provided by Credit Union Executives Society (CUES), an associate member of World Council.
No matter the industry, businesses and consumers alike look to technology to simplify their lives. Of course, that’s also the case at credit unions, particularly when it comes to fintechs, aka financial technology companies.
It could not be more appropriate that the first all-virtual World Credit Union Conference (WCUC) will feature more educational opportunities on digital transformation than ever before, with a keynote address and six breakout sessions devoted to the subject.Read More
The world has witnessed the steady progress of digitization starting back in the 1990s. Technologies like MICR, ATM, credit and debit cards were followed later by digital wallets, prepaid cards and recharge vouchers. The progression of these new technologies and innovations supported the growth of the payments industry. With the rise of fintechs, we have seen even more innovative solutions and methods to transact digitally through initiatives like UPI—a first of its kind platform.Read More