This International Credit Union (ICU) Day, we celebrate this year’s theme of “Cooperation for a Prosperous World” as a timely reflection of the cooperation that drives credit unions in building a more open, innovative and inclusive financial ecosystem in Canada.

That spirit was front and centre at Momentum, Central 1’s annual conference, where just 10 days ago more than 400 credit union leaders, fintech innovators, and financial service partners gathered to exchange ideas and address challenges. The insights and energy from Momentum continues to inspire us, reminding us of the vital role credit unions play in supporting Canadians and shaping the future of cooperative finance. Central 1 is proud to stand alongside these institutions, helping them navigate change and seize new opportunities through innovation and partnership. Today, we’re sharing a few key messages from Momentum that reflect this.

Financial services rooted in transparency and trust

With deep community roots and a member-first mindset, credit unions are well-positioned to meet the evolving expectations of today’s financial consumers. In his Momentum session on the evolving financial customer and how to turn insights into action, Rob Grein, CEO of PMG Intelligence, explored how shifting generational expectations and trust dynamics are reshaping financial services and how credit unions are uniquely positioned to respond. While data plays a critical role, Grein emphasized that it must be used to build meaningful relationships and deliver real value.

“The credit union system has the trust. You are starting from a place of strength.” – Rob Grein, CEO of PMG Intelligence.

Transparency, described as “the new currency,” is central to financial decision-making. Credit unions hold a distinct advantage, starting from a foundation of community and shared values. Generationally, Grein revealed that Baby Boomers are seeking guidance regarding wealth transfer, Gen X feels unprepared for retirement, Millennials want control but still value human connection, and Gen Z expects both digital access and personal relationships.

Across all age groups, the desire for connection from an expert is clear.

Grein encouraged credit unions to embrace a hybrid model, combining self-serve tools with human support, leaning into their cooperative values.

The power of partnerships

Collaboration has long been at the heart of the credit union model, and today, partnerships continue to drive innovation and member-focused solutions. In a breakout session, panelists explored how credit unions are teaming up with fintechs and other alternative banking institutions to expand and enhance their offerings to better meet the needs of their members and remain competitive. Fintechs often focus on becoming a master of one, meaning they are extremely specialized on a product or service, such as digital onboarding or payments for example.

This provides the partner the ability to focus on improving and enhancing their product performance. Successful partnerships are established on trust, shared purpose, and a commitment to evolve long-term.

Panelists ended this session with a message of optimism for the future. With open banking and regulatory changes on the horizon, this provides an opportunity for credit unions to accelerate transformation and lead with confidence.

“This is a leapfrog moment. The mindset of Canadians aligns with credit unions. We just need to show them who we are.” – Sukhman Dulay, Co-Founder & CEO, Cyder

Credit union voices are strong together

In the final session at Momentum, Central’s Chief Payments Officer, Barclay Hancock, and Todd Roberts, the Senior Partner and National Payments Lead at Deloitte, emphasized that collaboration among credit unions is a strategic imperative. For credit unions, acting as a consortium offers a powerful way to overcome the limitations of size, resources, and speed. By pooling expertise, data, and infrastructure, credit unions can collectively tackle challenges that would be overwhelming individually—such as rising fraud threats, complex regulatory changes, and the demands of the real-time payments infrastructure.

Beyond operational benefits, pooling voices gives credit unions a stronger seat at the table. A unified voice carries more weight with regulators, technology providers, and industry bodies.

But perhaps the most powerful benefit of consortium action is advocacy. When credit unions unite their voices, they gain the ability to influence national policy, shape fraud prevention strategies, and ensure that the unique needs of their members are not overlooked.

For example, the formation of the Canadian Anti-Scam Coalition (CASC) — a cross-sector alliance of financial institutions, telecoms, tech companies, law enforcement, and government — marks a pivotal shift in how Canada is tackling the growing threat of scams.

These conversations and partnerships reflect a credit union system in motion. Credit unions and their partners are adapting, innovating, and responding to the evolving needs of Canadians.

Whether through deeper collaboration with fintechs, a renewed focus on trust and personalization, or expanding infrastructure through strategic partnerships, the path forward is clear: progress happens when we move together.