The importance of remote banking was not widely understood or accepted in 2008. In just five years, however, the way members interact with their financial institutions has changed as evolving technology has ushered in a new era for financial services.
This year may be a turning point for credit union auto loan programs with monthly market shares poised to range from 18% to 24%, which were highs experienced prior to the recession.
In place at 624 credit unions is some form of remote deposit capture that allows members to deposit checks from any location using a desktop scanner, high-speed scanner or mobile smartphone camera.
As smartphone popularity grows – and not just across Gen Y, but all generations – some experts say so does the demand for mobile banking functionality.
The parent company of a significant CU investment partner has made a large investment in a social media giant.
While year-to-date member business loan originations have fallen by $2.12 billion as of Sept. 30, 2009, outstanding balances increased over September 2008 levels to reach $28.9 billion, according to data from Callahan & Associates Inc.