Challenge 2025

The Digitalization of the Global Credit Union System

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A New Decade, A New Goal

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 digitalization of the global credit union system by 2025.

Measuring Global Digitalization

World Council will measure the digitalization of credit unions in four key areas for Challenge 2025.

Digital Channels

Offering members core digital transaction services such as online and mobile banking, online payments and online loan processing.

Shared Platforms

Connecting your credit union to a shared payments system that allows for mobile payments and integrated with a national payments system.

Risk Management

Implementation of a cybersecurity system that complies with national regulations to protect members' identity and consumer data from digital attacks and intrusions.

Data Analytics

Employing data analytics to determine additional service offerings to members, and helping to identify those that need financial literacy or counseling services.

 

Follow Our Progress, Tell Us About Yours

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 communications@woccu.org. 

USF Credit Union Receives WOCCU 2025 Digital Growth Award

2025-07-31

World Council of Credit Unions (WOCCU) took time during its July 14 Annual General Meeting (AGM) at the 2025 World Credit Union Conference in Stockholm, Sweden to present USF Credit Union (USA) with the 2025 Digital Growth Award.

Based in Tampa, Florida, USF Credit Union won the award for "FlexPay", its Buy Now, Pay Later (BNPL) product.

Launched in June 2024, FlexPay helped USF Credit Union leverage technology to provide members with an affordable, transparent and accessible alternative to high-interest lending options such as payday loans and credit cards.

With 51% of BNPL users coming from lower-income households, this solution directly supports members who often lack access to affordable credit. It also enables members to finance essential expenses—such as home repairs, medical bills and education costs—without resorting to payday lenders or high-interest loans.

With 19% of USF Credit Union's BNPL users residing outside of Florida, FlexPay also demonstrated the solution’s broad accessibility through digital banking, removing geographic barriers to affordable financing.

FlexPay is embedded in USF Credit Union's Alkami online banking platform, allowing for a frictionless, self-service experience that empowers members to access financing within their existing banking environment.

By embracing digital transformation and prioritizing financial inclusion, USF CU’s BNPL solution has empowered members with flexible, responsible lending options, setting a benchmark for other credit unions to follow.

Both RIchard J. Skaggs, USF Credit Union's President, and Juli Lewis, USF Credit Union's Vice President of Community Engagement, traveled to Stockholm to accept the award in person. 

“What we're excited about is that we were able to take this innovation and combine it with two of our other values—community and passion—and be able to help members, not just of modest means, but any of our members to be able to live their lives and have experiences,” said Lewis.

You can learn more about WOCCU's Digital Growth Award program here.