BOSTON (6/3/08)--Mobile banking in financial institutions is still lagging behind the growing rate of mobile phone use in the U.S. But credit unions are leaders in the mobile banking efforts surfacing so far, according to a new study. Of the 260 financial institutions studied, 39 institutions--or 15%--provide mobile banking, noted Mercator Advisory Group Inc.'s report, "U.S. Mobile Banking: Sedate Growth, Disruptive Potential." Mercator is based in Boston (Cardline May 30). The study found that 23% of the largest credit unions have mobile-banking services. That compares with 17% of the largest banks and none of the largest community banks, according to the report. In 2007, roughly two million Americans were mobile-banking subscribers, fewer than the 3.7 million the Mercator Advisory Group had predicted last year. The report's author, George Peabody, noted that last year not enough financial institutions offered mobile banking. But he predicted steady growth of mobile-banking users of 33.1 million by 2012. Poor marketing and lack of consumer awareness about mobile banking may prevent mobile banking from succeeding, Peabody said. Financial institutions aren't promoting their mobile banking on their websites, which would lure Generation Y customers, he said.