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CU Snapshot

 Mar '18Feb '18
# of CUs5,5965,757
Total Assets
($ billions)
Total Savings
($ billions)
Net Cap.
Loans to Savings81.5%82.6%
Loan Delinq.0.8%0.9%

         Credit Union Indicators

Mobile Banking Grows Revenue

CUs offering the convenient service find tangible gains.

Mobile banking reduces member attrition, grows transactions, and increases interest in other products, according to Fiserv research.

Fiserv looked at the behavior of more than 67,000 credit union members and bank customers for the three months before and after they started using mobile banking.

The research finds that the attrition rate for members taking advantage of mobile banking dropped to 4.9% at large credit unions, compared with 13.4% for those not using the service. For medium and small credit unions, the attrition rate fell to 2.8%.

Financial institutions are "seeing tangible revenue from mobile banking," says Matt Wilcox, Fiserv senior vice president/marketing strategy and innovation.

The research also finds that financial institutions offering mobile banking experience: