Credit unions do a better job of providing information on theirwebsites than other FIs, but many credit union websites are stilllacking important information, according to a recent study by MoebsServices, an economic research firm in Lake Bluff, Ill.

In a major expansion of its annual survey of financialinstitutions, Moebs Services reviewedwebsite information for 1,676 financial institutions with assets ofat least $500 million, the company said.

Researchers reviewed the websites, searching for answers to 15consumer transaction questions about services, products and fees,the company said, and then Moebs surveyists phoned the call centersof the same FIs to ask the same questions.

According to the results of the study, 40% of credit unionsoffered the information sought on their websites, while only 28% ofbanks provided the same level of information on theirs. The studyalso noted that information on websites was not always consistentwith responses from call center staff.

Overall, the study shows only a third of the FIs (32%) offeredthe information sought on their websites and only 83.7% of theanswers were consistent with answers given via their call centers,the company said.

Michael Moebs, economist and CEO of Moebs Services, said thesurvey points out that websites are underutilized as a source ofinformation for members, and procedures to ensure consistentinformation, regardless of channel, need to be in place.

Moebs said the survey also highlights areas that credit unionsand other FIs need to focus on in order to meet the goals of theDodd-Frank Act and the Consumer Financial Protection Bureau.

“Our goal for this study was to evaluate FIs'websites as a tool for users,” said Moebs. “Websites can beenhanced to provide more data and more consistent information forconsumers, which can reduce compliance risk, promote greaterefficiency of call center and branch personnel, and foster moresales.”