A recent webinar hosted by CO-OP Financial Services on the status of credit unions and mobile banking hit on a point that deserves repeating. That is, credit unions have a valuable advantage over banks when it comes to mobile banking, and that is the element of trust.

The webinar included top financial technology experts whose companies provide products and services to the credit union industry: Stephen Bohanan, founder and chief strategy and sales officer for Alkami Technology in Plano, Texas; Brian Day, manager, mobile products for The Members Group in Des Moines, Iowa; and Jon Bartek, director, national sales and relationship management for CO-OP in Rancho Cucamonga, Calif. The webinar drilled down on the state of mobile banking, and the challenges and advantages of credit unions in that highly competitive space.

During the wide-ranging and informative discussion, Bartek pointed out that trust is an advantage that credit unions have consistently had over banks. “The trust factor among our members is higher than other financial service providers, according to studies,” he said. “Credit unions have to leverage that advantage.”

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