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WASHINGTON – In NCUA Chairman Dennis Dollar’s testimony recently to the Senate Banking Committee (see story page 1), Dollar highlighted credit unions’ online presence, and it’s clear credit unions are doing a lot online. Dollar said 54% or 5,106 of federally insured CUs have a Web site, with some 15.1 million members conducting transactions with their credit union over the Net. This chart shows exactly what credit unions are offering online. Online account balance inquiry, the most basic function of online banking, was the most popular features. Interestingly less than half of CUs offering account balance inquiries offer online bill pay.

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