WASHINGTON – Credit union members who use online services bank on their credit union for more than just the basic transactions, according to the latest Callahan & Associates online survey. Almost 90% of credit union online members in a survey last month said they depend on their credit union's Web site for personal finance management. Fifty-six percent said they considered the Web site "critical" to them. The survey attracted responses from 13,900 members of 15 credit unions ranging in size from $181 million to $2.8 billion E-members report using their credit union Web site for many other uses when available such as: *
Accessing e-statements (50%) *
Paying bills (41%) *
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Viewing check images (44%) *
Reading the credit union newsletter (20%) *
Checking the latest interest rates (21%) The survey also indicated interest in more services, said Scott Patterson, Callahan's e-commerce manager. "Members mentioned they want more online banking capabilities, more transactional capabilities and enhanced information services," he said. Fraud protection (54%) and personal finance management (51%) were the two new areas in which members expressed the most interest. Retirement savings information and investment information also were selected by more than 40% of respondents.
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