Eltropy, the leading AI-powered conversations platform for community financial institutions (CFIs), today announced a strengthened commitment to vendor consolidation through its comprehensive, enterprise-wide solution. As credit unions face mounting pressure to streamline operations and reduce costs, Eltropy's unified platform approach eliminates the “hairball effect” – the complex web of disconnected point solutions that create operational inefficiencies, security vulnerabilities, and rising costs.  
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"Credit unions shouldn't have to piece together solutions from different vendors for text messaging, AI, fraud prevention, branch operations, and member communications," said Ashish Garg, Co-founder and CEO of Eltropy. "Our platform brings everything together in one solution, eliminating integration headaches and security risks. When you rely on multiple vendors and one integration fails, the entire member experience can break down. The power of one unified platform means credit unions can focus on serving members rather than managing vendor relationships."

Early adopters of Eltropy's unified platform approach report significant operational improvements in efficiency and member service. The platform's unified user interface allows staff to perform all tasks within a single environment, eliminating the need to switch between multiple systems. This "One UX" approach embodies the principle of "Do more with less," allowing credit unions to simplify operations while enhancing service delivery.

"We were about to finalize an agreement with a contact center solution and phone system replacement," said Matthew Fehrmann, Chief Information Officer at Kohler Credit Union. "But when I saw Eltropy's platform, I knew we had to pause our decision. The competitor we were considering offered a solid contact center solution, but Eltropy showed us something different – an integrated, organization-wide platform capable of supporting every department that engages with our members."

Eltropy's enterprise-wide platform modernizes the contact center and provides credit unions and community banks with turnkey suites for Faster Collections, Deposit Growth, Total Branch Solutions that bring AI into branches, and comprehensive M&A solutions. The company's exclusive focus on credit unions and community banks has enabled deep integration capabilities with core banking systems. With over 35 integrations spanning Core, LOS, CRM, AOS, OLB and other critical systems, Eltropy offers unprecedented connectivity while maintaining platform unity. This includes an expanded partnership with Alkami to enhance digital banking capabilities, demonstrating Eltropy's commitment to strengthening its partner ecosystem without compromising its unified platform approach. 

"The traditional approach of adopting multiple point solutions creates what we call the 'hairball effect' – a tangled web of systems that becomes increasingly difficult to manage," Garg said. "Each new point solution adds another layer of complexity, another integration to maintain, another security vulnerability to monitor. By investing in a unified platform, credit unions can break free from this cycle, significantly reducing operational complexity while improving their security posture."

"Total cost of ownership becomes a significant factor as credit unions evaluate technology solutions," Garg continued. "Our unified platform eliminates redundant systems, reduces training needs, and streamlines support—all while enabling credit unions to serve members efficiently across every channel."

Industry trends show growing demand for vendor consolidation among credit unions as institutions look to reduce operational complexity and strengthen security. Eltropy's solution-based approach directly addresses these needs while maintaining the flexibility credit unions require to serve their unique member bases.

For more information about Eltropy's unified platform approach, visit https://eltropy.com/vendor-consolidation/. ​

World Council of Credit Unions (WOCCU) this week joined the Amazonia Finance Network (AFN), an alliance comprised of more than 50 international, regional and national financial organizations dedicated to promoting socioeconomic, environmental and sustainable development in the Amazon Region.
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WOCCU President and CEO Elissa McCarter LaBorde signed the Joint Statement of Intent from the Amazonia Finance Network, which outlines a need to improve the income and standard of living of local populations in the Amazon region, including indigenous people and traditional communities.

“We appreciate the need for adequate financing and technical support, the need to promote the exchange of good practices, and facilitate the investment of resources to maximize impact. We will focus on providing technical assistance to enterprises to increase productivity, while conserving and restoring the Amazon region. Financial inclusion, the reduction of inequalities and the promotion of employment and income generating activities, particularly for low-income populations will be a key goal,” reads a portion of the joint statement.

To reach its goals, the AFN is focusing its activities in seven priority workstreams, including:

• Financial inclusion.
• SMEs.
• Agribusiness and forestry.
• Carbon finance.
• Innovative finance and product design.
• Outreach and partnerships.
• Public-private partnership.

By signing on to the joint statement of intent, WOCCU joins Sicredi, Sicoob and Cresol, its member credit union organizations in Brazil, and Jardin Azuayo, one of the largest credit unions in Ecuador, as a fellow AFN member.

“World Council of Credit Unions is dedicated to promoting more equitable and resilient communities through its global network of financial cooperatives. Membership in the Amazonia Financial Network gives us an opportunity to do that in one of the hardest-to-reach areas and a critical ecosystem for our planet, by partnering with public and private agencies that can help credit unions extend financing to these communities,” said McCarter LaBorde.

IDB Invest and the International Finance Corporation (IFC) launched the Amazonia Finance Network during COP 28, the 2023 United Nations’ Climate Change Conference, with the support of 24 founding signatories from Bolivia, Brazil, Colombia, Ecuador, Guyana, Peru, Suriname, Spain, Switzerland and the United States.

​Cetera Financial Group, the premier financial advisor Wealth Hub, announced today that Citadel Credit Union has entered into a networking agreement with Cetera Financial Institutions to support and grow its investment services program. Serving more than 260,000 members with more than $6 billion in total assets as of June 30, 2024, Citadel Credit Union is one of the largest locally owned financial institutions in the Greater Philadelphia area. Citadel Credit Union was previously affiliated with CUSO Financial Services.
 
"This partnership marks an exciting milestone for Citadel as we take our program to the next level with expanded solutions and services and enhanced technology to better serve our members," said Sheri Perkins, Senior Vice President and Head of Wealth Management & Retirement at Citadel. "We spent considerable time researching and evaluating broker-dealers to ensure we partnered with the best. Cetera's unmatched expertise in bank-based programs stood out as the ideal fit for our growth strategy and ability to provide a comprehensive approach to financial wellness across retail bank and wealth services. Together, we are better positioned to serve our members and advisors in meaningful ways."
 
"At Cetera, we pride ourselves on being the premier partner for financial institutions looking to elevate their wealth management offerings," said LeAnn Rummel, President and CEO of Cetera Investment Services. "Our extensive experience in supporting credit unions uniquely positions us to deliver tailored solutions that empower advisors and members alike. We are excited to collaborate with Citadel as they build upon their strong foundation and bring enhanced financial opportunities to their community."
 
"This partnership is another proof point of our mission to provide exceptional support for our members and also for the Citadel team of advisors serving members," Bill Brown, President & CEO of Citadel added. "Our wealth management platform is a key pillar in our future growth plans and our advisors are a critical part of Citadel's success. By delivering high-value products, innovative tools and expert guidance, we care for and empower all those we serve to achieve financial strength. With Cetera's robust platform and resources, they will be equipped to deliver even greater value to our members."
 
Cetera Financial Institutions is a community within Cetera Investment Services that supports the investment programs of over 450 banks and credit unions. Cetera Investment Services is celebrating its 40-year anniversary in 2024, and with nearly 70 renewals signed through October 2024, Cetera Financial Institutions' current retention rate is 99 percent for all institutions.
 
Click here for more information about Cetera Financial Institutions.

America's Credit Unions today announced it is jointly pursuing legal action alongside the American Bankers Association (ABA), Consumer Bankers Association (CBA), Mississippi Bankers Association, and banks directly affected by the Consumer Financial Protection Bureau's (CFPB) final rule on overdraft services. With its new regulation, the CFPB exceeds its regulatory authority. More importantly, the CFPB fails to appropriately consider how its actions will harm the consumers who most benefit from the access to the liquidity enabled by overdraft services.

America’s Credit Unions President and CEO Jim Nussle issued the following statement on the lawsuit:

“The CFPB issuing its final rule on overdraft nearly a month before the Trump Administration is set to begin is risky behavior for a regulator and for the consumers they claim to protect. Not only does it exceed the bureau's authority, but it threatens to eliminate financial protections for consumers. Everyone should have access to services that allow them to make ends meet without having to choose between buying groceries or paying a utility bill. These financial hardships have serious consequences on families, and overdraft programs provide an affordable lifeline in these circumstances. America’s Credit Unions' mission is to ensure consumers can partner with credit unions for their financial health and to achieve their best lives. The association is going to continue to fight through legal action to reverse this grave mistake from Director Chopra.” 

ABA President and CEO Rob Nichols issued the following statement on the lawsuit:

“It’s unfortunate that we have to turn to the courts once again to rein in a CFPB director unwilling to recognize the clear legal boundaries set by Congress. The CFPB’s final overdraft rule exceeds the Bureau’s statutory authority, ignores thoughtful industry and stakeholder feedback, and will harm the very consumers the CFPB claims to protect. Surveys consistently show that Americans understand and appreciate overdraft protection, and if this rule is allowed to move forward, many Americans will lose this service. Consumers don’t want that to happen, which is why we have joined this litigation. We look forward to the court’s review.”

CBA President and CEO Lindsey Johnson issued the following statement on the lawsuit:

"The CFPB’s rule on overdraft services harms Americans who need it most – including the 26 million Americans who don't have access to credit and thus stand to lose the most if overdraft services are restricted.

"Overdraft services are an essential lifeline for consumers when they experience unexpected expenses. Research shows that overdraft services provide much-needed liquidity during a short-term budget shortfall so consumers can put food on the table, keep the lights on, and make other important payments on time. Without overdraft services, consumers on the margins are more likely to turn toward worse, less-regulated non-banking services to fill the gap.

"Data show that consumers value overdraft services, and in recent years banks have innovated to make these services more consumer-friendly — providing real-time payment updates, grace periods, payment control, low-balance alerts, and no-fee overdraft accounts.  

"While it is unfortunate, CBA had no choice but to pursue legal action to counter the CFPB's blatant statutory overreach with its misguided rule to ensure consumers continue to have access to liquidity through overdraft services.”

Mississippi Bankers Association President and CEO Gordon Fellows issued the following statement on the lawsuit:

“Overdraft protections meet the clear and definite market-based need for a safe, responsible, and easily understandable source of consumer liquidity. Overdraft services provide consumers with essential liquidity that can be the difference between putting food on the table or putting it back on the grocery store shelf. The CFPB’s new rule is a clear overreach of the bureau’s authority, and if allowed to stand it will result in Mississippians losing access to the liquidity that overdraft services provide. We worry that the loss of these services will push many economically vulnerable Mississippians into less safe and more costly non-bank products. 

“It’s regrettable that the CFPB has left us no choice but to pursue legal action to challenge this rule. Suing the CFPB to challenge this rule is undesirable but necessary.”

The complaint was filed in the United States District Court for the Southern District of Mississippi, Northern Division. CBA and its co-plaintiffs also will seek a preliminary injunction barring the CFPB from implementing the new rule until the court makes a final decision on the merits of the case.
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WHY IT MATTERS

• The CFPB's rule will hit Americans in need the hardest by reducing the availability of overdraft services. Consumers experiencing a short-term fund gap and those without credit access rely on overdraft services to put food on the table, keep their lights on, and make other important payments on time. Without overdraft services, they can be forced to turn to worse non-bank alternatives, such as fees for late payments on essentials like rent and utilities; pawning or selling something; borrowing money from friends and family; or taking out a payday loan.
• The CFPB is exceeding its regulatory authority with this final rule. The CFPB does not have the statutory authority to cap prices on services by financial institutions, nor do overdraft services meet the statutory definition of credit. The CFPB's final rule also reverses 50 years of legal precedent without sufficient justification.

​The American Association of Credit Union Leagues (AACUL) recently concluded its highly anticipated 2024 Winter Conference in Miami, Florida, which brought together over 250 leaders from the credit union industry, including League Presidents, League Chairs, League Executives, federal and state regulators, America’s Credit Unions leadership and board, and key business partners to chart the future of credit union advocacy and collaboration. 
 
Under the theme of "Comprehensive Collaboration", the conference featured impactful discussions aimed at strengthening advocacy efforts, fostering innovation, and addressing critical industry challenges. In addition to a robust General Session, participants engaged in tailored sessions within specific collaboration tracks designed for League Presidents and Chairs, advocacy teams, communicators, foundation executives, and league service corporation leaders.
 
Advancing Advocacy Through Collaboration, Insight and Innovation
“We chose our theme ‘Comprehensive Collaboration’ to celebrate the renewed energy we have seen from Leagues this year,” shared AACUL President Brad Miller. “Leagues have put an increasingly sharp focus on intentional and holistic collaboration to further advocacy impact and, ultimately, advance a thriving credit union movement.”
 
The conference began with a strategy session wherein advocates from AACUL, individual Leagues and America’s Credit Unions brainstormed about an aligned approach to credit union advocacy in 2025. Several other sessions also underscored the importance of collaboration for furthering advocacy impact:

• Navigating the Interchange Landscape: A diverse panel of industry experts shared strategies to prepare for upcoming policy changes.
• Showcasing Foundation Work to Create Advocacy Wins: State foundation professionals shared how community-focused programs enhance advocacy efforts in a panel discussion facilitated by Gigi Hyland, Executive Director emeritus of the Foundation.
• Proactive Approaches to Combatting Financial Fraud: AACUL President Brad Miller led an insightful panel of industry experts who shared proactive strategies for reducing fraud’s financial and reputational impacts and provided valuable insights into how collaboration can support and reinforce credit union efforts to battle this crime.
  
  

Celebrating Leadership and Looking Ahead
League Presidents currently serving on the AACUL Board were re-elected to one year terms with the following officers for 2025:

• Chair: Patrick Conway, President/CEO, CrossState Credit Union Association
• Vice Chair: John Bratsakis, President/CEO, MD|DC Credit Union Association
• Secretary/Treasurer: Dan Schline, President/CEO, Carolinas Credit Union League

 
Other AACUL Board members include Patty Corkery, President/CEO of the Michigan Credit Union League, Caroline Willard, President/CEO of the Cornerstone League, Karen Harbin, President/CEO of Commonwealth Credit Union (America’s Credit Union Board representative), and ex-officio members Jeff Olson (Immediate Past Chair), President/CEO of Dakota Credit Union Association, Jim Nussle, President/CEO of America’s Credit Unions, and Brad Miller, President of AACUL.
 
The 2024 AACUL Winter Conference culminated with a forward-looking general session, including a presentation on the future of the credit union movement with closing remarks by industry stalwart Mark Sievewright.

ViClarity’s U.S. and Ireland-based teams are celebrating the company’s recognition as one of the world’s leading regtech solutions again this year. The RegTech 100 list is curated by specialist research firm RegTech Analyst, which monitors the marketplace for innovative providers addressing the challenges of regulatory pressures within financial services.
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ViClarity has been named to the RegTech100 multiple times, including the last four consecutive years.

The 2025 RegTech100 list showcases some of the biggest disruptors and market leaders in regulatory technology helping financial institutions deal with the headwinds caused by technological innovation and regulatory change.

With the sector facing dynamic regulatory environments worldwide and growing business quickly, the selection process for this year’s list was one of the most intense to date. A panel of analysts and industry experts assessed nearly 1,500 businesses based on research produced by RegTech Analyst. The panel’s goal was to highlight the technology solutions, as well as the risk and compliance offerings, that financial institutions should be aware of in the year ahead.

RegTech Analyst Director of Research Mariyan Dimitrov said, “As financial institutions get to grips with the challenges of staying compliant amid rapidly changing regulatory obligations, as well as the growing presence of AI, the importance of working with the right regtech partner is becoming critical. This year’s RegTech100 list highlights the leading movers-and-shakers in areas such as risk management, financial crime prevention, communications surveillance and onboarding that are working at the frontline of innovation, seeking to help financial institutions stay ahead of regulatory updates, improve customer experience and bring operational efficiencies.”

ViClarity founder and Global CEO John “Ogie” Sheehy said, “It is an honor to be selected as a RegTech 100 company again this year. The ViClarity team is always focused on improving and innovating our technology to fit the needs of our partners, and the efforts that they invest in creating and supporting configurable solutions that help solve each client’s unique pain points is truly admirable. We are proud to have delivered excellent service to our partners this past year and we are excited to continue building new relationships and adding new users in 2025.”

​Synergent® is pleased to announce their new partnership with equipifi®, the leading Buy Now, Pay Later (BNPL) platform for financial institutions. Through this partnership, credit unions who work with Synergent will be able to launch their own BNPL programs through their digital banking apps, helping members split their larger purchases into flexible installment loans.
 
Synergent has been providing credit unions with access to the Symitar® core processing platform for over twenty years, along with integrated payments and marketing solutions. With equipifi, Synergent’s credit union partners will be able to leverage their knowledge of their members to extend BNPL offers in alignment with their members' financial needs and goals. This will provide members with a competitive payment method that meets their purchase preferences, drives revenue and engagement, and increases the value of their digital banking experience. 
 
“Members are asking for Buy Now, Pay Later options, and equipifi is the right partner for us to be able to offer this critical service to credit unions who already work with Synergent,” shared Rebekah Higgins, Vice President of Strategic Partnerships at Synergent. “We are thrilled to formally partner with equipifi to provide this service to more credit unions and their members.”
 
"The popularity of credit union BNPL programs is driven by members who prefer to access financial flexibility from an institution they know and trust," said Bryce Deeney, CEO and co-founder of equipifi. "We're excited to partner with Synergent to expand the access of credit union BNPL programs to US consumers, and to further assist financial institutions in providing top-of-wallet solutions to their members."
 
BNPL is projected to grow at a compounded annual rate of 25.5 percent between 2022 and 2026. Over the past 12 months, equipifi has seen a 750% increase in the number of financial institutions live on its platform as banks and credit unions across the country prioritize making this preferred payment option available to their accountholders.

Following four years of increases in credit card balances and delinquencies, a new TransUnion (NYSE: TRU) consumer credit forecast projects a slowdown in growth for both metrics by the end of 2025. TransUnion’s forecast also examined the state of delinquency in 2025 for auto loans, unsecured personal loans and mortgages.
 
The forecast highlights the outlook for credit cards as this credit product is by far the most widely used in the U.S. In Q3 2024 (latest data available), there were 554.5 million active credit cards held by U.S. consumers. In the last four years alone, the number of credit cards increased by more than 100 million (451.6 million in Q3 2020).
 
“We’ve observed widespread growth in credit cards in recent years for myriad reasons. Notably, credit card issuers felt comfortable taking on more risk, while consumer appetite for credit rose in tandem with higher costs for everyday goods and services,” said Paul Siegfried, senior vice president and credit card business leader at TransUnion. “As inflation pressures dissipate and interest rates continue their slow decline, we believe there will also be a slowing in both credit card balance growth and serious delinquency rates.”
 
TransUnion projects credit card balances to increase to $1.09 trillion by the end of 2024, representing a year-over-year (YoY) increase of 3.9%. A similar YoY rise of 4.4% to $1.1 trillion is expected at the close of 2025. These expected increases are well below the YoY growth seen in 2022 and 2023 of 18.5% and 12.6%, respectively.
 
Balances among non-prime credit card borrowers, those borrowers with VantageScore 4.0 scores of 660 or below, are forecast to grow at a slower rate than in recent years. Among non-prime borrowers, balances are expected to grow by 4% YoY in 2024 and 8% in 2025 after growing by 39% and 21% in 2022 and 2023.

Serious credit card delinquency rates of 90 or more days past due (90+DPD) are expected to increase for the fifth consecutive year in 2025 to 2.76%. The expected 12 basis point (bps) YoY rise will follow an anticipated YoY rise of 5 bps in 2024 but is much lower than what was observed in 2022 (+78 bps) and 2023 (+33 bps).

“The growth in total credit card balances is expected to be driven by gradual increases in prices and in consumer spending, along with slower increases in personal savings,” said Michele Raneri, vice president and head of U.S. research and consulting at TransUnion. “We are forecasting credit card balance increases more in line with the single-digit growth observed in pre-pandemic years. This slowing growth and the overall stabilization of the economy offers optimism that we may be nearing a tipping point when it comes to the increases in serious delinquency rates over the past several years.”
 
This projected slower balance growth comes as more consumers appear confident about the state of their household budgets. According to TransUnion’s recently released Q4 2024 Consumer Pulse study, 63% of consumers indicated that their household finances were as planned or better than expected in Q4 2024. This is up from 60% one year prior.
 
Mixed Outlook for Delinquency Among Other Credit Products, but Potential for Optimism
 
Among other lending categories, delinquencies are, for the most part, leveling off as the macroeconomic picture improves and consumers gradually find themselves in more favorable financial positions.
 

• Auto loan delinquencies are expected to stabilize in Q4 2024 and see a decline in Q4 2025 following two consecutive years of growth. Serious delinquency rates of 60 or more days past due (60+ DPD) are forecasted to remain flat YoY in Q4 2024 before a slight decline of 7 bps in Q4 2025.

 

• After seeing a decline of 24 bps in Q4 2023, serious unsecured personal loan delinquency rates (60+ DPD) are expected to remain relatively flat in Q4 2024 (-3 bps) and see a small uptick in Q4 2025 (+13 bps). A key element of this increase is likely lenders expanding their buy boxes to riskier borrowers as the economy continues to stabilize.

 

• Despite three consecutive YoY increases (among them a forecasted increase of 15 bps in Q4 2024), 60+ DPD mortgage delinquency rates remain extremely low relative to historical norms and are expected to remain flat in Q4 2025 (-1 bps).

“One common thread that we see across lending categories is moderation in serious delinquency, likely driven by a stabilizing economy,” said Jason Laky, executive vice president and head of financial services at TransUnion. “Consumers are returning to a financial equilibrium, increasingly finding the room needed in their monthly budgets to make on-time payments and avoid falling behind. Economic conditions are forecast to continue to gradually improve in 2025. As lenders look for loan growth next year, they should use all of the tools at their disposal to make the best possible lending decisions.”
 
TransUnion’s forecasts are based on various economic assumptions, such as expected consumer spending, disposable personal income, home prices, inflation, interest rates, real GDP growth rates and unemployment rates, among other metrics. The forecasts could change if there are unanticipated shocks to the economy. Better-than-expected improvements in the economy, such as potential increases in GDP and disposable income, could also impact these forecasts.
 
To learn more about how lenders can win more customers with greater speed, precision and control, click here. To learn more about how TruVision can help more precisely balance risk and opportunity with risk management products that identify and manage best-fit customers across the account lifecycle, click here.
 
For tips on how utilization rate, payment history and other factors can impact consumers’ credit, visit TransUnion’s blog on how to use a credit card responsibly.

Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, just announced the certification of the one millionth auto loan through its Lenders Protection™ loan decisioning engine. This achievement underscores the Company’s ongoing efforts to empower financial institutions to grow their portfolios, create access to vehicle ownership, and drive innovation in the automotive lending industry.

Launched in 2000, Lenders Protection uses loan analytics, risk-based pricing, automated decisioning technology, and default insurance to enable financial institutions to responsibly offer vehicle financing to applicants in the near- and non-prime credit spectrum. This milestone represents years of successful partnership with credit unions, banks, and captive finance companies.

Reliable transportation is a cornerstone of economic opportunity, creating access to an improved quality of life. Through its work with automotive lenders, Open Lending has helped bring these opportunities to underserved consumers and changed countless lives by breaking down barriers to vehicle ownership and fostering long-term financial inclusion.

“Certifying our one millionth auto loan demonstrates the value of Lenders Protection in enabling financial institutions to grow securely while continuing to expand access to vehicles,” said Chuck Jehl, CEO of Open Lending. “We remain steadfast in our commitment to helping lenders not only drive results but also to make vehicle ownership possible for more people than ever before. Reaching one million isn’t just a number. It represents one million lives touched plus the lives of those in their families and communities. It is a testament to the power of the relationships that we have developed with lenders, technology partners and our insurance carriers. This milestone is a reflection of past successes as well as a stepping stone for future growth.”
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Open Lending’s one millionth auto loan is just one chapter in its mission to make transportation more affordable. The Company remains focused on driving innovative enhancements for our customers and addressing evolving market needs.
Learn more at openlending.com.