Strategic Link strategic partner CUNA Mutual Group explains what the continuing trend toward mobile banking means for credit unions offering online loan applications.
Well before Bank Transfer Day took root, personal finance reporter Stacy Johnson was telling consumers how to ditch their banks and vote with their feet. Now Johnson is offering his content free of charge for credit unions’ member-facing websites.
Strategic Link strategic partner CUNA Mutual Group launched the Smartphone Loan platform in June 2011. Pilot tests at two credit unions saw application completion rates jump by as much as 138 percent in two months.
Bank of America’s decision to hike debit card fees, a fast-growing Facebook page promoting Bank Transfer Day, and the continued Occupy movement seem to be spurring membership growth among Northwest credit unions.