FinTechs See 146 Million Reasons to Target Credit Unions

FinTechs once saw credit unions as a hard market to crack. Now the door is crowded, and many providers want a way inside.

“FinTechs Want In: How Credit Unions Can Turn Partnerships Into Growth” is a PYMNTS Intelligence and Velera collaboration. The report examines the growing opportunity for credit unions and FinTechs to work together. It also shows why interest alone won’t produce new products for members.

Credit unions serve nearly 146 million members across the United States. That reach gives FinTechs access to a large and established market. Credit unions also gain access to technology that can help them improve service, add products and respond to changing member needs.

Both sides see the potential. The challenge is getting from interest to launch. FinTechs say long approval cycles and older systems can slow progress. Credit unions report internal barriers that make it harder to bring new ideas to market.

In “FinTechs Want In: How Credit Unions Can Turn Partnerships Into Growth,” learn how:

• Credit unions now rely on outside providers for an average of nine products, up from six in November 2024. Fewer than 1% of credit union executives say they can innovate without external partners.
• Mid-sized credit unions are seeing more value from partnerships. Among credit unions with $1 billion to $5 billion in assets, 61% say outside partners help them innovate much faster or at greater scale. That share rose from 55% in November 2025.
• Consumer-facing FinTechs may offer credit unions more support than competition. Seventy percent of FinTechs outside the credit union market sell directly to consumers. Only 37% say they compete for credit union members.

The report also explores which products FinTechs bring to credit unions. These include payments, digital banking, lending and risk management. It shows where current partnerships are strongest and where credit unions may find new opportunities.

Credit unions can act on this growing interest. Clear purchasing rules can help. Faster reviews can also move strong ideas forward. A simpler path from first meeting to launch can help credit unions attract more providers and deliver useful services sooner.

About the Report

“FinTechs Want In: How Credit Unions Can Turn Partnerships Into Growth” is based on the PYMNTS Intelligence 2025-2026 Credit Union Innovation series, produced in collaboration with Velera. Headline figures come from the April 2026 survey of FinTech executives, which included 100 respondents, and are placed in trend against five earlier surveys, the oldest from November 2023. Credit union benchmarks come from four surveys of credit union executives from November 2024 through May 2026 and included 500 respondents in each survey.