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 firstname.lastname@example.org.
This post is provided by Credit Union Executives Society (CUES), an associate member of World Council.
Very few industries have remained unaffected by COVID-19, and the payments industry is no exception.The ongoing pandemic is acting as a driver for consumer payment choices and purchasing behavior, influencing how and where we transact, along with what forms of payment we use and why we choose to use them.
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