Credit Unions Moving Online in Record Numbers

For the first time ever, the percentage of credit unions with a presence on the World Wide Web has passed the 50% mark. Data on the 9488 credit unions in the U.S. and its territories indicates that 56% of all organizations currently possess Web pages, and the level of service provided by these sites is growing at a comparably rapid pace.

 
 

For the first time ever, the percentage of credit unions with a presence on the World Wide Web has passed the 50% mark.

According to Callahan and Associates' data on the 9488 credit unions in the United States, Puerto Rico, Guam and the Virgin Islands, 5304, or roughly 56% of all organizations, currently possess Web pages.

This figure varies considerably from the fractions of a percent seen during the advent of the popular Internet movement. More than a decade after the domain name system was established in 1984, only 12 pioneering credit unions had a functioning page on the Web.

The quantity of credit unions with an online presence ballooned from the original dozen in 1995 to 266 by March of 1996, an increase of over 2,000% from the year prior. In early 1997, that number had roughly tripled to 760.

 

 

 

Aug. 2, 2004


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