The findings: Top performers innovate and grow more quickly than midtier credit unions because of key behaviors, per PYMNTS. These include:

• Treating third-party partners as must-haves: Top credit unions are significantly more likely to collaborate with external consultants and vendors to launch new products and features quickly and cost-effectively rather than building everything internally. As we’ve covered, credit unions’ relationships with fintechs are evolving to reflect these partnerships.
• Maintaining a realistic self-assessment of innovation: Compared to midtier performers, top performers more accurately view their innovation capabilities and are more likely to acknowledge resource constraints. This suggests a clear innovation agenda centered around the needs and demands of customers.