EL SEGUNDO, Calif. (5/24/13)--Five credit unions that are offering popular technological banking features were featured in an article this month by gobankingrates.com
"More and more credit union online banking features are surfacing from financial cooperatives across the nation, giving these institutions the competitive technological edge to rival household bank names," said the article, "5 Credit Unions with Incredible Banking Technology."
"The fact that these credit unions and many others in the credit union family are joining the wave of online and mobile banking is promising to loyal members who enjoy the non-profit touch, but desire innovative banking technology," added gobankingrates.com
commended these credit unions for providing technology that consumers desire:
Wright-Patt CU in Fairborn, Ohio, offers a WPCU Home Banking app in which members can check multiple account balances and initiate transfers. The app garnered a 4.5 out of 5 rating on iTunes for its iPhone version from 97 consumer reviews. Wright-Patt's Android version received a 4.5 out of 5 review based on comments from 687 users.
USC CU in Los Angeles has a mobile deposit service available to iPhone, iPad and Android users, which is already designed into its mobile banking app. Users select which deposit accounts the funds should go to, state the amount being deposited, and snap two camera images--front and back--of the endorsed check.
TwinStar CU in Lacy, Wash., provides members peer-to-peer fund transfers to make borrowing money from friends easier. TwinStar allows members to send funds to a third party using its mobile app via PayPal. They can select the account from which to pull funds, enter the recipient's name and e-mail address (or mobile phone number), and choose the type of transfer the transaction classifies as--"friends and family" or commercial--then click send. There is a $1 fee per transaction.
Credit Union ONE in Ferndale, Mich., will soon release online banking features that present a helpful look for consumers, including brand logos for retail account transactions, online bill pay capabilities and budgeting tools that provides depositors a visual of their spending habits.
IC FCU in Fitchburg, Mass., uses text messaging to update members on their accounts. Its Short Message Service makes it easier to perform a quick account balance check. By using shortcodes like "B" for balance and "H" for transaction history, members can receive an instant response with the information they seek. The service is free, but standard messaging rates may apply.