<ul><li>Credit unions (CUs) are outpacing digital banks in the battle for small and medium-sized business (SMB) share of wallet.</li><li>CUs demonstrate strong top-of-wallet conversion rates, with key strengths in converting SMBs in specific segments like small towns, rural areas, and micro-SMBs.</li><li>Newer businesses operating for fewer than five years show the highest top-of-wallet conversion rate with CUs at 60%.</li><li>To maintain and attract top-of-wallet status, CUs should focus on refining rewards programs and enhancing spending control and tracking features in their SMB card offerings.</li></ul>

Credit Unions Outpace Digital Banks in Top-of-Wallet Conversion Battle

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