Six Actions Credit Unions Can Take To Compete With The Six-Second Loan
- Anne Legg
- Aug 22
- 3 min read
Recently, The Financial Brand spotlighted Synchrony’s new PRISM system—a powerful credit decisioning engine that delivers credit card approvals in as little as six seconds. Impressive? Absolutely. Intimidating? Only if we forget what makes credit unions extraordinary.
Yes, companies like Synchrony have scale, resources, and the ability to integrate 9,000-plus data points into lightning-fast underwriting decisions. But here’s the truth: credit unions have the advantage where it matters most—trust, relationships, and a relentless focus on member well-being.
With smart strategy and some well-placed innovation, credit unions can not only compete but also outshine big players like Synchrony. Here are six actions to consider right now.
1. Build Smarter, Faster Underwriting
You don’t need a 9,000-variable model to make intelligent, timely credit decisions. Start with your internal data—repayment histories, deposit flows, and member engagement patterns—and develop a streamlined scoring process. For existing members, approvals can be near-instant, especially when coupled with pre-qualification campaigns.
2. Embrace Alternative Data
Synchrony is leaning on cash-flow underwriting and bank account verification to approve more applicants. You can do the same—pulling from internal transaction data, utility payments, and payroll deposits to make fair, inclusive lending decisions. This not only opens the door to members with thin credit files but also strengthens your financial inclusion mission.
3. Embed Credit Where Members Already Are
Synchrony’s point-of-sale model works because they meet customers at checkout. Credit unions can adapt this by integrating pre-approved credit offers into digital banking, mobile apps, and even during key life events—such as applying for a mortgage, opening a new account, or setting up direct deposit. Make the offer at the moment of need.
4. Design Second-Chance Programs
Synchrony’s “second look” pathways help turn declines into approvals. Credit unions can take this further by creating structured second-chance credit cards, secured-to-unsecured conversion programs, and financial coaching. Pair the product with guidance, and you’re not just issuing a card—you’re building a healthier financial future for your member.
5. Lean into Trust and Relationship
You already have what big competitors can’t buy—member trust. Use it. Highlight your commitment to fair pricing, no predatory terms, and transparent fees. Remind members that their success is your success, and that every decision is made with their long-term well-being in mind.
6. Innovate at the Community Scale
Synchrony built PRISM from scratch. You can innovate too—just on your terms. Consider AI-assisted tools to help staff make quicker, more accurate decisions. Use data-driven insights to identify credit opportunities before members even ask. And because you’re nimble, you can pilot, refine, and deploy faster in your own community.
Don’t Forget the Skip-a-Payment Advantage
Here’s something your competition won’t—and frankly, can’t—match: skip-a-payment programs. These are uniquely credit union benefits that offer real relief to members during tough times—without the predatory interest traps found in many for-profit products. In a six-second decision world, the real loyalty-builder is still being there when members need breathing room.
The Bottom Line
Speed matters. Inclusion matters. Innovation matters. But in the end, what keeps members close is knowing their financial partner sees them as more than a credit score.
If we combine data-driven agility with the heart of our mission—and proudly highlight the benefits only we provide—credit unions won’t just keep up with Synchrony. We’ll continue to define what it means to serve members, one relationship at a time.
Create Clarity & Certainty in Uncertain Times
Get the Framework Credit Unions Are Using to Thrive in 2025 and Beyond!
Discover the 3-step framework credit unions are using to reduce friction, guide members, and make confident decisions in unpredictable times.
Download “Creating Certainty in Uncertain Times” and start turning insight into impact.
Boards are asking about AI &
Auditors are asking about governance
Here is how you answer both!
The 2026 Data Mastery Bundle gives your credit union:
A governance charter & framework
Tools to ensure data quality, security & compliance
Learn to activate your data for growth & efficiency
Build a governance structure that auditors will applaud
Invest 2025 dollars into 2026 readiness.
Save $200 with code 26Bundle before Dec 1, 2025
Your Board.
Your Strategy.
Future-Ready.
The future of credit unions is data-driven—and that future begins in the boardroom.
THRIVE’s Board Strategy Workshops help unlock alignment and accelerate your leadership’s journey toward impactful decisions. These customized sessions guide boards beyond passive oversight into confident enablers of innovation, simplifying AI and analytics for real-world applications. If your leadership is ready to shift from “data stuck” to “data smart”—fast—this is for you.
Curious?
Let’s build your next board strategy together. Learn more here.