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This white paper breaks down:
- Why payment engagement — not branches or logins — is a strong predictor of member loyalty
- How wallets, P2P, and BNPL are quietly displacing the credit union brand at the moment of payment
- What a member-first payment strategy looks like, and the six questions every credit union should be asking today
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Payments Have Become Core to the Customer and Member Relationship: Is Your Payments Strategy Ready?
Frequently asked questions
Why have payments become so important to the credit union member relationship?
Members now interact with their credit union through payments more frequently than through nearly any other channel. Every card transaction, digital wallet purchase, peer-to-peer payment, or financing decision shapes how members experience their financial institution.
As digital wallets, fintechs, and other payment providers compete for those everyday interactions, credit unions must treat payments as more than a back-office function. A strong payments strategy can help keep the credit union’s card top of wallet, deepen member engagement, reinforce its brand, and strengthen the overall relationship.
What will credit union leaders learn from this white paper?
The white paper examines five forces reshaping the payments ecosystem and what they mean for the future of the member relationship. Readers will gain perspective on:
- Why payment engagement has become an important indicator of relationship depth
- How digital wallets are changing the credit union’s visibility at checkout
- How peer-to-peer platforms and buy-now-pay-later providers are capturing parts of the traditional payment and credit relationship
- How increasingly visible swipe fees can create friction for members
- What credit unions should consider as they develop a more strategic, member-first approach to payments
Who within a credit union would benefit from reading the white paper?
The white paper is designed for credit union leaders responsible for the institution’s growth, financial performance, and member relationships. This includes CEOs, CFOs, CLOs, CXOs and other executive leaders, as well as leaders across payments, cards, lending, strategy, revenue, product management, and member experience.
It is particularly relevant for teams evaluating how their payments strategy can increase member engagement, protect the credit union’s role in everyday financial activity, and support sustainable growth.
What sets Bassett Capital Group apart from others in the industry?
Bassett Capital Group’s team brings more than 210 years of combined experience across cards, payments, lending, credit risk, product strategy, portfolio management, operations, and partner negotiations.
As an independent third-party advisor, our recommendations are guided by what is best for the credit union and its members. We are not tied to a particular network, processor, or technology provider. This allows us to evaluate the entire payments program objectively and provide practical recommendations aligned with the credit union’s goals, financial performance, and member experience.
How can Bassett Capital Group help credit unions strengthen their payments strategy?
Bassett works with both self-issuing credit unions and those operating through agent card programs. Our services can include:
- Card portfolio assessments, benchmarking, and product-level profitability analysis
- Product, pricing, rewards, credit, risk, and growth strategy
- Portfolio valuations, sales, and buy-back evaluations
- Agent program contract reviews and renegotiations
- Processor, network, platform, and third-party partner evaluations
- Operating model, staffing, and technology recommendations
- Implementation and execution support
Our approach begins with understanding the credit union’s members, portfolio performance, and strategic priorities. We then help leadership identify the most valuable opportunities and develop a practical roadmap for improving member engagement, portfolio economics, and long-term growth.