Strategies and technologies: a comparative analysis between credit unions, traditional commercial banks, and fintechs

Abstract

This article aims to analyze the strategies and technologies in the comparative context between credit unions, traditional commercial banks, and fintechs, with an emphasis on considerations about the Financial System. The study uses both quantitative and qualitative approaches to investigate how credit unions can differentiate themselves amid intense competition in the financial market. The research collects secondary data and analyzes specific cases of credit unions, structured into five sections that address concepts and historical aspects of credit unions, traditional commercial banks, and fintechs in the financial context. The results present comparative and relational data among the studied institutions, revealing that credit unions are significantly expanding their customer base within the national banking system. However, despite this growth, they still have considerable potential to expand even more rapidly. This accelerated growth can be achieved by maintaining the significant technological investment already made and expanding the promotion of high-quality services provided to members. In addition to financial services, credit unions play a crucial role in local development through social and educational programs that have a significant impact on the communities where they operate. Therefore, increasing investment in marketing focused on these differentials is essential to drive growth more quickly and effectively. The analysis suggests that a well-articulated strategy, combined with advanced technology and a strong community presence, can position credit unions as innovative leaders in the financial sector.