Credit-Seeking Consumers Give Credit Unions and Community Banks a Second Look

Credit Unions and Community Banks Gain Credit Card Issuing Momentum

The share of consumers whose primary credit card is with a national bank has fallen from 76% in 2020 to 68% in 2023. PYMNTS Intelligence’s latest study of 2,088 consumers, “Credit Unions and Community Banks Gain Credit Card Issuing Momentum,” a PYMNTS Intelligence and Elan Credit Card, reveals how smaller FIs can position themselves to take a share of national banks’ cardholders by offering key features.

Inside the November Study
  • 15%: Share of consumers who would prefer a credit union for a new credit card
  • 16%: Portion of consumers who have a primary bank account with a credit union
  • 24%: Share of consumers that prefer a credit union or community bank for a new credit card

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