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News Now

CU System
Study Connecticut FIs double mobile tech use
HARTFORD, Conn. (7/20/11)--State-chartered financial institutions--including credit unions--in Connecticut are expected to more than double their mobile technology offerings this year, according to a 2010 survey of electronic banking activities in the state by the Connecticut Department of Banking. Greg Bordonaro discussed the results of the survey in his weekly “Financial Sense” column posted on HartfordBusiness.com (July 18). The study showed that 10% of state chartered credit unions offered mobile banking to their members in 2010, but that figure was expected to double this year. Less than 20% of state-chartered banks made mobile banking available to their customers, but that number was expected increase to nearly 50% in 2011. The survey also found that less than 10% of Connecticut credit unions had a social media presence in 2010. Credit unions use their websites for loan activity, according to the survey, with 60% reporting they provide loan application downloads and nearly 60% providing loan history information.


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