Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
League Surveys In Four States Note Mobile Banking Increase
FARMERS BRANCH, Texas, and DULUTH, Ga. (7/23/13)--Mobile banking adoption continues to surge, according to surveys in four states by two credit union leagues.
 
About 60% of respondents in Arkansas, Oklahoma and Texas used mobile banking in a survey conducted by the Cornerstone Credit Union League (The Leaguer July 22). About 57% said they use mobile banking weekly; 22% said they engage in daily usage and 21% use mobile banking at least monthly.
 
The league's survey suggests consumers' view is that mobile banking is becoming a necessity rather than a luxury. About 44% of respondents to the survey indicate the availability of mobile banking influences their choice of financial institutions. Roughly 33% of survey respondents said their financial institution doesn't offer the service.
 
Those who used mobile banking indicated they used three functions: Checking account balances (95%), followed by making payments (40%), and making deposits (15%).
 
Of those who do not use mobile banking, 39% said they do not see the need, 33% are concerned about security, and 11% said the technology is too complicated. In addition, 22% indicated their phone does not support the technology.
 
In another survey, in Georgia, more than 49% of respondents to the Georgia Credit Union Affiliates (GCUA) Midyear 2013 Consumer Survey report said they use mobile banking (Consider This July 2013), said GCUA. This is an 18% increase from year-end 2011
 
Mobile banking also is on the rise nationally. About 28% of all mobile phone users and 48% of smartphone users have used mobile banking in the past 12 months, according to a November 2012 survey by the Federal Reserve Board. Those figures represent increases of seven percentage points and six percentage points, respectively, since December 2011. The Federal Reserve Board also reports that 49% of underbanked consumers report using mobile banking in the past 12 months.
 
 


RSS





print
News Now LiveWire
.@LACULeague in @DailyComet: #creditunions' "old" benefits attractive to new generation http://t.co/AzOv3nB7IB
11 hours ago
At @FTC request, court halts operations of an alleged debt-relief scammer calling itself “FTC Credit Solutions.” http://t.co/qMsDBmKExH
16 hours ago
.@daytondailynews : The secret is out about #creditunions http://t.co/Aqu3pFTROV @DayAirCU @CODECreditUnion
16 hours ago
.@CUNA's @Nussle on @SenatorReid :(2of2)On behalf of more than 102M #CU members,I thank him 4 his leadership over the yrs/wish him the best.
18 hours ago
.@CUNA CEO Nussle on Sen. Reid’s decision not 2 seek re-election (1of2): Sen. Reid has a long history of #CU support throughout his career.
18 hours ago