In the fourth quarter of 2025, local bankers report that in this stable economy, savings and consumer lending are both showing strong growth, home equity loan activity has ticked up and technology is on the rise, as is fraud prevention, detection and education.
Wyatt Wolven, chief financial officer with CEFCU, said, “Since I’m an accountant, I’ll start with the balance sheet. We have seen – especially through the first half of the year – really strong savings growth, and that holds true throughout the credit union industry.”
Wolven said that savings have slightly outpaced the national savings-growth rate, and the same is true of loans.
”We’ve seen strong consumer loan growth, especially with vehicle loans. It’s been great to see our members using the credit union; it shows that we’re still adding significant value on both the savings and the lending side.”
Susan Gleason, vice president of marketing at Heartland Credit Union, reported growth in loan activity for both vehicles and homes.
“Auto lending remains strong across central Illinois,” she said. “Many members are ready to purchase homes, yet limited housing inventory continues to pose challenges. As a result, we’ve seen an increase in home equity activity, with members choosing to invest in and improve their existing homes.”
Wolven commented that as an industry, credit unions have seen a very positive earnings trend, and technology plays a role, “especially digital banking, payment innovations and improvements,” he said. “We see more people using a mobile wallet, which allows them to put their debit and credit cards in their phone for convenience of use.”
Jon Erickson, Springfield market president and commercial banking manager at Clock Tower Community Bank, agreed that technology is a key element in banking today. “As mobile banking, remote deposits and online banking have evolved, the adoption rate across age groups has increased. I think people have really embraced it over the years.”
Wolven said credit unions are partnering with fintechs more now than in the past due to the rapid pace of advancements in technology.
“At CEFCU, we created a digital storefront which allows members to login to their accounts online or on the mobile app and, they can be directed to a personalized loan officer who will tell them their approved loan amount and what they can afford in a vehicle. This allows them to go to a dealership and know what type of loan they qualify for. It puts the member in control.”
You can’t talk about technology without including artificial intelligence in the conversation. All three agreed on the need to research best practices and stay informed about advancements in AI.
Erickson said, “AI can be a multi-headed monster. It helps us with our marketing and different processes at the bank. But on the other side, some of the fraudsters are using it to commit fraud.”
Trust is imperative when it comes to our financial resources. “Technology has made incredible advances in the way we do banking,” said Wolven, “but it has given scammers another avenue to commit cybersecurity fraud.”
Some fraud techniques appear as simple as a text message that instructs you to click on the link, and that’s when a bad actor gains control of your account. Gleason said, “Educating our members is more important than ever. Keeping them informed about new technologies and tools that enhance security and convenience, as well as providing ongoing financial education” is imperative.
Erickson added, “Fraud runs across the entire gamut. We’re seeing business customers getting hit with different schemes as well as retail customers. It seems like it’s becoming a daily occurrence.”
While scams are increasing in number and complexity, Wolven said, “Credit unions have increased safeguards that monitor fraud activity, and we’ve instituted advanced fraud protections. Our staff do a great job of educating our members about fraud.”
He continued, “We take a proactive approach by offering financial literacy and fraud awareness seminars, we provide programs to local schools, and we also share weekly tips on social media to help members stay informed about current scams.”
However, technology will never replace the value of human capital when it comes to banking.
“Although people are using technology to do their banking, the phones in our contact centers are very busy, and our member centers have a great deal of activity,” Wolven said. “People will always need to sit down with a person and talk about more complex banking needs or just to have their questions answered. They want the best of both worlds.” .