According to first quarter data, approximately 3,300 credit unions offer mobile banking to their members. That corresponds to 55.5% of the industry.
When it comes to this service, the contrast between credit unions that do and don’t offer mobile banking is stark among different asset bands. 12 of 181 credit unions with assets greater than $1 billion do not offer mobile banking, or 7%.
For smaller credit unions, the ratio is reversed. For credit unions under $20 million in assets, 377 of 2,407 do offer mobile banking, or 16%.
Drilling deeper into the credit union balance sheet, and comparing institutions based on whether or not they offer the service, illustrates differences in performance. Click through the graph below to see the difference in member growth, assetgrowth, loan growth, delinquency, and ROA at institutions that do and do not offer mobile banking.
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