The $793 million Financial Partners Credit Union in Downey, Calif., said about 100 transactions totaling $7,000 have been processed through the 50,000-member credit union’s new mobile person-to-person service since its launch earlier this month.
The Los Angeles-area credit union embedded the offer in its mobile banking app, originates the transaction and requires recipients to have a PayPal account to receive the funds.
“Financial Partners Credit Union’s mobile offering takes a back seat to no one in the market place in serving our growing membership,” said its president/CEO, Nader Moghaddam.
“Adding P2P to our robust mobile offering, which already includes mobile deposit and bill pay, lets our users know we understand the needs of their busy, on-the-go lifestyles,” he said.
Members are finding the “Send Money” P2P feature on their smartphones without encouragement from advertising or other promotions so far, the credit union said.
FPCU serves employees and their families in the aviation, aerospace and health care industries in the Los Angeles area and Orange County, with branches in Brea, Downey, Huntington Beach, Orange and Woodland Hills.