Study Refutes Image of CUs

BOSTON-A study of more than 1,400 consumers by market research firm Chadwick Martin Bailey found credit unions are altering the perception that they are less tech-savvy than larger banks.

The report said that while larger banks have a reputation for offering the most online and mobile services, credit union members report online banking usage that is just as high as larger bank customers, and they give their institutions higher marks on performance. The ease of online and mobile banking is making the difference, the study showed.

"These findings suggest a new banking value proposition is emerging," said Jim Garrity, managing director of Chadwick Martin Bailey's financial services practice. "The growth of online and mobile banking services means convenience and accessibility don't belong solely to large bank customers. The banks that are able to provide secure, usable, and reliable online services combined with top notch service will be most competitive.

MHFCU Recognized by NerdWallet

EAST WINDSOR, N.J.-McGraw-Hill FCU's Financial Literacy Series has been ranked among the best financial literacy programs in the nation by NerdWallet.com. The Financial Literacy Series, free monthly financial education seminars tailored for local educators and consumers, earned the "Best for Teachers" designation in the ranking.

For info: www.nerdwallet.com.

LAFCU Upgrades Mobile Offering

LOS ANGELES-Los Angeles Firemen's Credit Union has upgraded its mobile banking app to accept mobile deposits. "Members will have immediate access to their deposits without having to take time out of their busy schedules to drive to a branch or ATM," LAFCU said.

mFoundry is the mobile provider.

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.