In part one of the 2024 FS Summit episode, credit union VPs Heather Dufourny (Service Credit Union) and Heather Sullivan (Randolph-Brooks Federal Credit Union) sit down with Craig and Josh in Las Vegas to discuss the goings-on in the credit union industry.

Craig is curious to hear which products members are most interested in, and wonders how Dufourny’s and Sullivan’s credit unions are responding to the financial squeeze many members are experiencing.

Dufourny and Sullivan share how each of their organizations are utilizing this slow period — from preparing for an eventual refinance boom to diversifying portfolios — and agree balancing a seamless member experience with the need for increased fraud controls has been a challenge within the industry.

Josh wraps things up by asking which key elements they’re focusing on to draw in a younger demographic, and is keen to know how a credit union decides when to bring in new technology or systems.

The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.

The conversation kicks off with a macroeconomic view of the market since last quarter — ranging from consumer sentiments to card balances and originations to the impact consumer stress levels are having on their financial health.

FJ asks how issuers should be responding to elevated risk in the marketplace, and Josh shares strategies lenders might consider to alleviate some of that pressure.

Craig shares an update on the private label market; Josh weighs in on when migrating scores may start to normalize; and the conversation ultimately shifts to what issuers can be doing to better understand Gen Z preferences and behaviors — particularly given market dynamics over the last few years.

The information discussed in this podcast constitutes the opinion of TransUnion, and TransUnion shall have no liablity for any actions taken based upon the content of this podcast.