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CU System
Text banking launched at UW CU
MADISON, Wis. (10/14/10)--—UW CU has launched Text Banking, a new online banking feature for its members, the credit union announced Wednesday. Text banking is a free service that allows members to interact with and manage their UW CU accounts using text messages on their mobile phones. Members can perform common banking functions--such as checking balances on their accounts, transferring money between accounts and initiating Money Link--without having to log in to Web Branch, said the Madison, Wis.-based credit union. To use the service, members must have a text messaging (SMS) service and sign up through Web Branch. “We created this system so members can manage their accounts effectively, wherever they go--even if they don’t have Web access,” said Eric Bangerter, director of Internet Services at UW CU. “For instance, in the past, if members received an automatic low balance alert via text message, they had to log in to the Web Branch, either at a computer or with their Web-enabled mobile device with Mobile Banking.” Now, they can text a command to the credit union and transfer funds between accounts, with funds available immediately, Bangerter said. “For many people, it isn’t easy to keep on top of their finances,” said Paul Kundert, president/CEO of UW CU. “We’re providing this tool so people can check balances and transfer funds wherever they go.”


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