Data from a new survey by the Federal Reserve Bank of Bostonsuggests that credit unions that don’t offer mobile banking, blow off mobile payments andignore the mobile needs of business customers could head the way ofthe dinosaur.
The report surveyed 706 financial institutions, including 186credit unions, in the Atlanta, Boston, Cleveland, Dallas, KansasCity, Minneapolis, and Richmond Federal Reserve Districts. The FIswere in 34 states and the District of Columbia. The data wasdrawn primarily from banks and credit unions with less than $500million in assets; 46% had less than $250 million in assets.
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