Why This Matters for Credit Unions
We're excited to announce the launch of our new Center of Excellence for All Things Payments. When it comes to the current landscape of payments disruption, the stakes for credit unions have never been higher. Emerging payments technologies create new opportunities while also putting pressure on credit union deposit strategies and interchange revenue. Amazon and Walmart are exploring launching stablecoins that could financially impact a credit union’s bottom line. OpenAI’s Instant Checkout with PayPal will allow users to buy in a single, streamlined ChatGPT experience. AI-powered fraud is accelerating faster than defenses can keep up.
No single credit union can solve the payments puzzle on their own," said Mark Meyer, CEO of Filene Research Institute. "The All Things Payments Center brings together the industry's best thinking: academic rigor, practitioner insight, and collaborative problem-solving to help credit unions not just survive these disruptions but lead through them.
From Confusion to Competitive Clarity
The All Things Payments Center cuts through the noise with unbiased CU-guided research that will help credit unions look forward to navigate competition and technological tradeoffs to build a payments roadmap that will meet the evolving expectations of their members. Filene will examine critical questions including:
- Where does our credit union stand competitively in payments and what should we prioritize?
- Which payment innovations (tokenization, stablecoins, etc.) will impact our members?
- What do members actually expect from their payments experience and how do we deliver it?
A lot is shifting in payments right now, and it can feel like the ground keeps moving," said Dr. Henry Kim, Fellow for the Center for All Things Payments. "We'll help credit unions sort signal from noise and turn things like real-time payments, stablecoins, fraud detection, and AI into practical next steps so they can serve members even better.
Forward-Thinking Credit Unions Are Already Leading
A coalition of innovative credit unions have committed as founding sponsors, including Corporate America Credit Union, Corporate Central Credit Union, Desert Financial Credit Union, EastRise Credit Union, WSECU, SchoolsFirst FCU, Municipal Credit Union and Lake Michigan Credit Union.
Center Sponsors Share Their Excitement for This New Journey
If credit unions are to remain relevant, we must lead in the fast-changing payments space. This means anticipating member needs, shaping future solutions, and embracing experimentation. It's not an exaggeration to say our industry's future depends on it.
WSECU
The payments ecosystem is at the heart of building relationships with members. The payments landscape is quickly transforming and competition is at an all-time high. We are excited to support the All Things Payments Center of Excellence because it provides us a unique opportunity to build and shape payments for the future so we can meet current and future generations of members' payment needs.
Municipal Credit Union
As the payments landscape continues to evolve at an unprecedented pace, Corporate America Credit Union is delighted to participate in the Centers of Excellence initiative for Payments. We remain committed to advancing payment solutions and equipping our members with the knowledge necessary to navigate these changes. Remaining relevant and competitive requires an investment in education and innovation, and we are thrilled about contributing to the future of payments with Filene and its partners.
Corporate America Credit Union
Payments sit at the center of our Members' financial lives, and we are proud to serve as a founding sponsor of the Center for All Things Payments. This partnership reflects our commitment to driving innovation in payment solutions. We will share insights, collaborate with industry leaders and deliver strategies that empower credit unions to lead the way in transforming how Members experience payments, making every interaction personalized and secure.
SchoolsFirst FCU
Ready to Help Lead the Future of Payments for Credit Unions
As you can imagine, this is a highly anticipated research center for many credit unions who are trying to navigate the quickly changing payments landscape. In fact, our waiting list for sponsors of this new project is filling up fast. If your credit union's strategic plan includes delivering a payments strategy, reach out to [email protected] to learn more about becoming a sponsor. Also, don't miss our upcoming webinar, "Helping CUs Navigate Payments Disruption: Introducing Filene's New Research Center," where Fellow Dr. Henry Kim will share the vision, priorities, and research agenda that will guide the Center’s work.
