Episode 134
Busting Credit Union Myths
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Meet Amber Harsin, Vice President of Credit Unions at Mambu. This episode’s guest marks an outlier on the Fintech Garden podcast. Harsin takes our hosts, Igor Tomych and Dumitru Condrea, on a journey to explain the state of credit unions in the US. To every participant’s delight, the conversation was a perfect balance of tech comparisons between these organizations and modern-day fintechs. If anything, the conversation serves as a spotlight on the differences between legacy financial systems and modern ones.
Key Insights from the Conversation #
Credit unions are mission driven institutions constrained by legacy technology:
Credit unions have absolutely nailed trust, community impact, and financial inclusion, offering better rates and long term member value than big banks. However, decades old legacy systems limit their digital potential, slow innovation, and reduce competitiveness against neobanks on convenience.
Composable banking is the way to go:
API first, cloud native architectures allow credit unions to decouple legacy systems, launch new digital products alongside existing operations, and migrate members gradually. This has far more potential to lower transformation risk while restoring control over product development and speed to market.
Modernization is the only option, just ask Gen Z:
Legacy technology is practically now considered inefficient when it comes to operational costs through tech debt, duplicated systems, and delayed innovation. Modern platforms unlock the potential for faster product launches such as BNPL, improve mobile first experiences, and shift credit unions from operational survival to sustainable digital growth.
Why You Should Listen #
This episode explains why credit unions are not struggling due to weak business models, but because of outdated technology. You will learn how composable banking allows community based institutions to modernize safely, compete with neobanks on digital experience, and engage younger generations without sacrificing trust, purpose, or financial stability.
Guest Appearing in this Episode
Amber Harsin
VP of Credit Unions at Mambu
Amber Harsin is Vice President of Credit Unions at Mambu, leading modernization and digital transformation strategies for credit unions across North America and globally. Her experience, spanning nearly three decades in the credit union ecosystem, enables her to focus on financial inclusion, community impact, and enabling innovation through cloud native, composable banking platforms.
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