Is FedNow right for your credit union? Find out with this checklist

by Preston Packer, FLEX

In today’s fast-paced digital landscape, credit union members prioritize speed above all else. They desire the convenience of managing their essential financial affairs effortlessly, anytime, anywhere, and on any device. FedNow, the new instant payment infrastructure developed by the Federal Reserve, provides these benefits and even more when it comes to instant payments.

So, how can you find out if FedNow is the right choice for your credit union and its members? Follow these steps to guarantee that FedNow is the perfect fit.

1. Dive deep into the current market

The first thing you’ll need to do to find out if FedNow is right for your credit union is assess the current trends in the financial services marketplace to see where you stand. Ask yourself:

 

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