To compete, credit unions should ensure their mobile systems are up to par.
Seventy-five percent of consumers still prefer to open checking accounts at a branch, Raddon says.
Will Wal-Mart's new checking account product create a competitive challenge for the financial services industry? A senior financial analyst and a credit union CEO don't think so.
A credit union CEO and a financial analyst say Wal-Mart's new checking account won't directly compete with credit unions.
In a move to recruit checking account depositors, Discover Financial Services announced a deal with Allpoint last week to offer millions of Discover card holders access to Allpoint branded ATMs.
State Employees' Credit Union of Raleigh, N.C., has added Overdraft Fee Free Days to its traditional checking account product.