Velera’s 2026 Credit Union Growth Outlook Reveals Untapped Opportunity for Credit Unions to Grow SMB Relationships

Conducted in partnership with Visa, the study highlights how credit unions can better attract, serve and retain small- and medium-sized businesses (SMBs)

Tampa, Fla. (June 17, 2026) – Velera, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider, announced today the release of its sixth annual Credit Union Growth Outlook. This year’s study reveals a significant, largely untapped growth opportunity for credit unions to deepen relationships with small- and medium-sized businesses (SMBs) by delivering the digital tools, payments capabilities, access to credit and personalized service these businesses need to grow.

According to the study, 86% of SMBs use multiple banking partners, with SMBs using an average of nearly three financial institutions for business banking. While credit unions are well-positioned to serve micro and small businesses through their strengths in service, transparent fees and local relationships, research shows that many growing businesses move to larger providers as their needs become more complex.

“Small businesses represent a powerful growth opportunity for credit unions that approach this audience with intention,” said Velera Chief Marketing & Communications Officer Tom Pierce. “This year’s CU Growth Outlook underscores that SMB banking cannot simply mirror consumer banking. Credit unions that pair their strengths in service, trust and community with the digital tools, payment offerings and credit capabilities growing businesses expect will be best positioned to earn a larger share of the SMB relationship and drive long-term growth.”

Key findings from this year’s study include:

• Credit unions are well-positioned to serve micro and small businesses: Micro and small businesses prioritize low and transparent fees, quality customer service and access to credit – areas credit unions can leverage as core strengths. The study found these businesses are also more likely to use their primary financial institution for deposits, expenses and holding excess cash or savings.
• SMB needs become more complex as businesses grow: As firms scale from micro and small businesses to lower middle market businesses, their needs shift toward more sophisticated business-specific solutions. According to the study, lower middle market businesses are more likely to use their primary financial institution for business credit cards, payment processing, payroll services and financial advisory support.
• Payments and credit issues directly impact business operations: One in three SMBs say payment and credit issues have a significant impact on their ability to maintain consistent cash flow and invest in growth. These challenges are even more pronounced among lower middle market businesses, with 39% saying these issues affect their ability to invest in growth and 43% saying they affect their ability to serve members effectively.
• Digital capabilities and security are now table stakes: SMBs expect seamless digital experiences, convenient access across channels and strong security and fraud protection. For lower middle market businesses specifically, security and fraud protection are the top factors in choosing a financial institution.
• Service remains a key differentiator for credit unions: While SMBs increasingly expect more robust business banking capabilities, credit unions can differentiate themselves through personal service, practical guidance and relationship-based support – particularly as business owners look for financial partners that can grow alongside them.

The study also outlines recommendations and considerations for credit unions as they look to compete more effectively for SMB relationships, including leading with payments, leaning into core strengths, supporting SMB credit needs and engaging early and often to deepen relationships over time.

The 2026 Credit Union Growth Outlook was conducted in partnership with Visa and surveyed 600 U.S. small- and medium-sized business owners and decision makers. The audience was evenly split, with 300 respondents from micro and small businesses with less than $10 million in annual revenue, and 300 respondents from lower middle market businesses with $10 million to $50 million in annual revenue. All participants were 21 years of age or older, with a mix of gender and age groups.

The 2026 Credit Union Growth Outlook white paper is available for download on the Velera website.

About Velera

Velera is the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America, operating with velocity to help its clients keep pace with the rapid momentum of change and fuel growth in the new era of financial services. Velera leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers. For more information, visit velera.com.