Credit Unions further embark on strategic mergers and amalgamations.
CONEC® Mobile Wallet was introduced in 2010 but discontinued in 2016. The wallet allowed for Credit Union members and non-Credit Union Members to deposit their money on an app and complete basic transactions, including sending and receiving money, paying bills, or topping up mobile phones, somewhat similar to the USA’s Venmo App.
The Credit Union Movement is repositioned to increase visibility through the “Phases of Life Campaign” and the “Power of People” campaign. The range of products and services is increased and interest rates become more competitive.
At the end of 2020, 25 Credit Unions with membership totaling over 1 million and savings of over J$90 billion.