Today’s Credit Unions and financial institutions are constantly met with a broad array of changing services, viewpoints, and methodologies to evaluate and implement. With our regularly updated white papers, you can stay informed and ready to act with the latest strategies and best practices.
March 1, 2025 White Paper Update – Implications of the Proposed Credit Card Competition Act of 2023
How Durbin 2.0 Could Adversely Impact Credit Unions
Originally published in 2023, Samaha & Associates has released an updated version of this white paper, which includes the latest industry data and perspectives as of February 2025. The Credit Card Competition Act of 2023 (a.k.a. Durbin 2.0) currently being debated in Congress applies to credit-issuing financial institutions with assets over $100 billion. At the crux of this controversial legislation are merchant-related fee changes and new protocols for card issuers. If the bill were to become law, the rippling effects could adversely impact credit unions and community banks.
The Future of AI and Credit Unions
Determining Applications, Objectives, and Benefits
Undeniably an evolving technological advancement with far-reaching merits, artificial intelligence (AI), machine learning (ML) and robotic process automation (RPA) are significantly changing back office and member-facing user experiences as well as C-Level decision-making processes. Determining when an organization is ready to deploy these next-generation strategies depends on a host of factors, which especially ring true for credit unions of varying asset classes that may or may not have internal IT departments equipped for such an undertaking. Watching from the sidelines with hopes of being a fast follower, however, is not a winning strategy. How do these variables translate to adoption rates in the credit union industry? The multi-tiered answer to this all-important question is the thesis of this white paper, which will investigate credit union AI/ML/RPA use cases as well as insights shared from fintechs and consultants driving the next iteration of this technological movement.
A Credit Union’s Roadmap to Successful Mergers & Acquisitions
Technology Decisioning and Implementation Best Practices in 2024 and Beyond
Due to the current volume of mergers and acquisitions, the number of Credit Unions continues to decrease, so it may only be a matter of time before your Credit Union engages in a mergers and acquisitions conversation. For Credit Unions that have undertaken a merger or acquisition before, they may have developed a routine based on lessons learned. In most cases, however, this process is unfamiliar territory for Credit Union executives and requires thorough planning, so nothing is lost in the mix. The purpose of this white paper is to provide Credit Union executives—whether from the surviving Credit Union or the Credit Union that is being acquired—with a “best practices” roadmap to mergers and acquisitions.
FedNow: The Future of Real-Time Payments
Why Credit Unions Can’t be Fast Followers
The purpose of this white paper is to educate and inform credit union executives on the benefits and challenges of adopting the FedNow Service, while underscoring the perils of deploying FedNow without proper due diligence, oversight and strategic planning. To this end, the white paper will lean on industry research as well as share experiences from credit unions and credit union service organizations (CUSOs) that have successfully rolled out the FedNow Service to respective membership.
Implications of the Proposed Credit Card Competition Act of 2023
How Durbin 2.0 Could Adversely Impact Credit Unions
The Credit Card Competition Act of 2023 (a.k.a. Durbin 2.0) currently being debated in Congress applies to credit-issuing financial institutions with assets over $100 billion. At the crux of this controversial legislation are merchant-related fee changes and new protocols for card issuers. If the bill were to become law, the rippling effects could adversely impact credit unions and community banks.
Understanding Fintech Disruptors
Why Credit Unions Have to Act, Not React
While Credit Unions are being challenged by numerous big fintech disrupters, outliers like Amazon, PayPal, Facebook, Google, and Walmart are morphing into viable financial institutions. As consumer banking behavior continues to change in response to the COVID-19 pandemic, Credit Unions should embrace their grassroots ethos of “people helping people” and connect with fintech operators that share a similar vision and approach.
Mergers And Acquisitions
Saving Money and Increasing Member Satisfaction
The long-term trend of Credit Union consolidation through mergers and acquisitions has impacted the way executives and Members view and experience the industry, accounting for much of the decline in the number of U.S. Credit Unions in the past three decades. Credit Union consultants bring expertise and oversight to the merger and acquisition process, providing costs savings, adept vendor contract negotiation, and sound project management strategies.
Mastering the Art of Negotiations
Core and Third-Party Agreements Made Easier
With the constantly changing landscape of tools and strategies in the Credit Union industry, it’s essential that executives stay up to date with the latest technology. By finding the right consultancy and implementing best practices, it is not only possible to get more out of vendor relationships, but also create a strong business model that will ensure long-term success.
When Should Credit Unions Say “I DO” To Vendors
Vendor Agreements During a Core Conversion
In the Credit Union space, a marriage is akin to a core conversion. Understanding when a credit union should say “yes” to the vendor “dress” and establishing a true, bi-lateral agreement yields a favorable long-term outcome for all parties, including Credit Union Members.
Cost Cutting Initiatives
Auditing and Renegotiating Vendor Contracts
Acting as an unbiased third party, Credit Union consultants can audit and renegotiate vendor contracts in advantageous terms, saving money and resources even in a volatile market. A progressive approach to auditing e-business and technology contracts is required to improve revenue optimization and save on costs.
In-House or Service Bureau Initiatives
An Insightful Investigation That Goes Beyond Industry Headlines
Deciding between an in-house or service bureau core data processing platform can be a complex process for a Credit Union, which gives rise to a number of quandaries. Often the decision is based solely on cost, and this can be detrimental for the Credit Union. Consultants that analyze and properly manage the evaluation and negotiation process can save time and money.
Key Considerations to Establishing A Member Business Services Program
Insights and Best Practices
While the fundamental banking concepts of retail and business services are similar, they differ in their approach to products, services, and lending. There are key factors to consider when establishing a member services program at a Credit Union. By enhancing operational structure, support products, providing exceptional services, and adjusting core system functions, a Credit Union will be better positioned for success.
Preferred And Future Technologies
How to Outpace Industry Evolution
Improving a Credit Union’s technology platform, its core operating system, will provide a competitive edge and increase member satisfaction. Stay ahead of the curve by implementing forward-thinking enhancements across your Credit Union’s technology platforms.
Mobile Revolution
Its Impact on Credit Unions
Mobile phone applications will continue to impact the financial services category and how progressive Credit Unions respond will impact their sustainability and growth. Technical consultants with security expertise are well-positioned to navigate emerging mobile applications in the banking sector.
Alternative Payment System Solutions
How to Investigate New Services
Credit Unions are often spending too much for their payment solutions and can provide efficiencies for their members by evaluating and considering alternative options. Learn the benefits, pros, and cons of investigating new services while staying compliant with state and federal regulations and addressing security and operational issues.
