Mobile banking users are not necessarily more affluent than nonmobile bankers, according to Boston-based research firm Aite Group, and credit unions should invest in debit cards, prepaid cards and merchant-funded awards to attract new members.
The mobile channel also can help with potential lost income from the looming debit interchange cap, Aite said, basing its conclusions on surveys that polled 54 credit unions and 1,011 mobile and nonmobile consumers.
Only 40% of credit unions surveyed offered some type of mobile service to their customers, compared to banks' 62%, although the percentages of credit unions who said they were likely to develop specific mobile banking features in the future tended to be greater than those of banks.
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