Payment mechanisms: critical trends in the credit union environment.

Technological innovations are transforming the payment mechanisms in the credit union sector. Although teller counters are still being used by credit union members, they are increasingly favoring self-service devices and interactivity. Branches, automated teller machines, point-of-sale machines, home-banking tools and interactive kiosks are now actively being used by users. Therefore, credit unions should start offering these services as soon as possible. Debit and prepaid cards should likewise be offered because many predict these will be highly demanded instruments in the near future.