Which credit union leads the way in online banking adoption?

 
 

As of the second quarter of 2013, the industry reported 42.55% in online banking penetration rate, up from 40.25% in the previous June. In other words, 42.55% of total members at credit unions having transactional world wide website use online banking to transact at their credit unions.

Hartford ($82.1M, Hartford, CT) led the nation in online banking adoption among credit unions over $20 million in assets. It reported the online banking penetration rate of 99.41%, up 11.87 percentage points from the previous year. Tallahassee-Leon ($40.9M, Tallahassee, FL) came in second with 5,643 out of 5,695 members using online banking as of June 2013. Greater Central Texas ($23.1M, Killeen, TX) rounded out the top three with 99.09% in the same quarter. 

LEADERS IN ONLINE BANKING ADOPTION
Data as of June 30, 2013 For Credit Unions Over $20M in Assets 
© Callahan & Associates | www.creditunions.com

  Credit Union State Online Banking
Penetration Rate
Members Using
Online Banking
Total Members Total Assets
1 Hartford CT 99.41% 13,937 14,020 $82,057,499
2 Tallahassee-Leon FL 99.09% 5,643 5,695 $40,869,370
3 Greater Central Texas TX 99.04% 2,900 2,928 $23,089,976
4 Palmetto Health SC 98.61% 12,838 13,019 $61,520,998
5 Family First MI 98.45% 7,281 7,396 $72,254,020
6 University TX 97.44% 160,743 164,973 $1,640,992,786
7 Alta Vista CA 97.17% 12,263 12,620 $133,972,950
8 Steel Valley OH 96.71% 9,011 9,318 $45,233,074
9 Alternatives NY 96.12% 9,175 9,545 $84,596,566
10 One Nevada NV 95.46% 71,917 75,337 $696,910,677


Generated by Callahan & Associates' Peer-to-Peer Analytics

 
 

Sept. 20, 2013


Comments

 
 
 
  • It would be interesting to know if these credit unions purge inactive online banking users after a certain period of time and whether they charge members for paper statements. The latter fee may lead many members to sign up for eStatements just to avoid the fee, with them having no intention of actually using online banking. I'll take active online banking users (quality) any day over those who simply signed up for online banking (quantity).
    Ken Moser, VP of Marketing, Arsenal CU