Fednow just may change your credit union’s entire approach to how money moves in and out.
That is fact and the fact is all the realer because Fednow actually launched in July. Sure, real time money movement has been talked about for at least a decade but that was just talk, now it is real.
Could you ignore it for the time being? That would be to your detriment, warns this podcast’s guest expert on Fednow, Richard Crone, a longtime payments guru.
Crone also tells a fast way to gain significant experience with instant money movement. You may not like this particular piece of advice – over 4000 credit unions currently are not following it. But give a listen to Crone’s argument and you just may be persuaded.
Crone also says that credit unions have a huge built-in advantage over community banks in regard to real time payments. This is a fight waiting to be won. If only you get involved.