MADISON, Wis., Oct. 23 /PRNewswire/ -- More and more credit unions are
offering their members -- typically at no charge -- convenient, time-saving
services such as online banking and online bill pay, says the just-released
2006-2007 Credit Union Fees Survey from the Credit Union National
Association (CUNA).
According to the survey, 60 percent of credit unions now offer online
banking, up from 45 percent two years ago. Nearly all (97 percent) credit
unions offer this service for free to their members.
Further, 65 percent of credit unions that offer online banking also
include a bill-pay function with their offering. This means that nearly 40
percent of all credit unions offer an online bill-pay program -- up from
just 27 percent in 2004.
Although the number of credit unions offering online bill-pay has
continued to rise, the number of credit unions charging their members for
this feature has dropped -- quite dramatically. Today, only 33 percent of
credit unions offering online bill pay charge for this service, down from
62 percent in 2004, and 81 percent in 2001.
"Nowadays, it's nearly impossible to turn on the news and not hear a
story about consumers paying more for something, so we're ecstatic to share
this good news with credit union members," said Jon Haller, director of
market research for CUNA's Center for Research and Advice. "Credit unions
clearly understand online bill pay's mainstream usage as well as the
convenience it offers to their members."
The 2006-2007 Credit Union Fees Survey examines a variety of fee types
and account structures for credit unions across the country. More than
1,000 credit union questionnaires were documented and analyzed for the
survey.
About CUNA
With its network of affiliated state credit union leagues, Credit Union
National Association serves more than 90 percent of America's 9,000 credit
unions, which are owned by more than 88 million consumer members. Credit
unions are not-for-profit cooperatives providing affordable financial
services to people from all walks of life. For more information, visit
http://www.cuna.org.
|
