Credit union members relied more heavily on their credit and debit cards to buy goods during the 2020 holiday season than the previous year, despite shipping delays and cutbacks in other spending, according to a PSCU report released Tuesday.
The St. Petersburg, Fla.-based payments CUSO's Transaction Trends Update found card spending grew more sluggishly from week ending Dec. 22, 2019 to the week ending Dec. 20, 2020 (Week 51) and grew more briskly from the week ending Dec. 29, 2019 to the week ending Dec. 27, 2020 (Week 52).
Debit purchases rose 9.2% in Week 51 and 21.1% in Week 52. The four-week average gain was 15.6%.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
