June 30, 2025
It’s not breaking news, but sometimes it bears repeating: today’s members expect every interaction to be simple, fast, and digital.
Even the most technophobic among us now defaults to Amazon for purchases and books taxis with a tap. It’s hardly surprising, then, that people expect the same frictionless experience from their credit unions.
In fact, according to LendKey’s latest report, Key Trends in Digital Lending, 76% of members prefer mobile banking over in-person service. Meeting (and exceeding) those expectations is a challenge–but also an opportunity.
Balancing Trust and Satisfaction
The good news is that credit unions are starting from a position of strength. They have something banks and fintech don’t: member trust.
Credit unions continue to perform significantly better than banks in trust-related actions like supporting members and providing convenience. When paired with modern digital experiences, that trust becomes a powerful advantage; even for the very largest institutions.
But it’s not all smooth sailing. While overall satisfaction among credit union members remains high at 729 (on a 1,000-point scale), satisfaction among members under 40 has declined. It’s now four points lower than it was in 2024, and 16 points lower compared to members 40 and older. Digital experience is at the center of that gap.
Experience is Viral
On the latest episode of 22 Minutes in Lending, Omar Jordan doubled-down on the importance of the digital experience.
“If credit unions provide a fintech-like experience, there’s no question that they’re going to continue to grow,” said the Coviance CEO. “People talk about their experiences.
“One of the challenges credit unions seem to forget is how viral the member experience has become. They are talking about you—whether it’s good or bad—and they’re going to share that information.”
Jordan’s point is that “frictionless” is not just about speed—it’s about perception. Every extra step, slow load time, or confusing screen isn’t just frustrating—it’s memorable, and not in a good way. Credit unions that make lending fast, easy, and intuitive give members something positive to talk about.
Cooperation and Collaboration
For so many credit unions, the technical advances needed to deliver a truly painless banking experience can seem out of reach, but with the right partners, it quickly becomes a reality.
Indeed, many fintech organizations like LendKey have shown a long-standing commitment to helping credit unions thrive–and with reduced federal oversight, the need for such trusted partners has never been greater.
LendKey is proud to support credit unions in delivering seamless, personalized digital lending solutions that meet members where they are—no compromises required.
Download our Key Trends in Digital Lending eBook to explore what’s shaping the future of lending, and how your credit union can stay ahead.