Jan 01 1997

Prospective Changes in Payment Systems: Implications for Credit Unions


This monograph describes the U.S. payment system and identifies areas where it is changing. Four of the most important changes are (1) The expected turn-of-the century peak in check use, (2) The expansion of electronic payments from 23% today to over 50% of all noncash payments by 2010, (3) The trend toward nationwide and supermarket bank branching, and (4) The possible privatization of some Federal Reserve payment services. The author assesses how changes in payment arrangements may affect credit unions, their members, and corporate credit unions.

Report Number 33