VELERA | PYMNTS Report July 2026

CU Innovation Readiness: Consumers Trust CUs, But Reach Elsewhere

How credit unions can turn trusted relationships into everyday card usage and deposit growth.

Trust is Not Enough to Win Top-of-Wallet Status

Credit unions have strong member trust, but many consumers still reach for national bank cards when spending. Drawing on consumer and SMB data, this report quantifies the value of card conversion and shows why rewards and everyday utility matter for deeper engagement.

  • Compare primary financial institution and card usage
  • See how top-of-wallet use supports deposits
  • Identify rewards gaps that limit spend capture

Trust Needs Card Conversion

    61% name CUs PFI

    Credit unions are the primary financial institution for most consumers surveyed.

    54% of SMBs name CUs PFI

    More than half of SMBs identify CUs as their primary financial institution.

    48% use CU cards most often

    Fewer than half of CU cardholders use CU cards most often.