Credit Unions Falling Behind as Younger Members Adopt Crypto

A new report from PYMNTS Intelligence reveals a significant gap between credit unions' plans to engage with cryptocurrency and their younger members' actual behavior. The survey of 500 U.S. credit union executives found that 27% of Gen Z and millennial credit union members already own cryptocurrency, while another 18% are highly interested in paying with it.

Early adopters have a clear advantage: 35% of those who identify as 'early launchers' actively engage with cryptocurrency, compared to just 2% of institutions that describe themselves as 'laggards'. This disparity raises questions about credit unions' ability to keep pace with their members' evolving financial needs.

The report also suggests that stablecoins are becoming a more prominent feature on the payments roadmap. While only 3% of executives expect stablecoins to play a major role within three years, this share rises to 33% within six years.