Most of the new technologies deployed or being deployed including online banking, mobile banking and tablet banking, have their most frequent interface with the checking account, according to the Raddon Financial Group
Further fueling the mobile fever, Raddon Financial Group
's Spring 2012 National Consumer Research study, which is based on 1,230 survey responses gathered in February of this year, showed that household mobile banking use has more than tripled in two years from 6% in 2010 to 20% in 2012.
Consider this, in the fall of 2001 14% of households reported using online banking according to a Raddon Financial Group
"My belief is that credit unions need to continue to promote their value regardless of how big or small Bank Transfer Day ends up being," said Bill Handel, vice president-research/development at Raddon Financial Group
Raddon Financial Group
recently ranked the credit union among 2010's top 20 high performers in the industry.
Dupaco Community CU is a two-time recipient of the Lombard, Ill.-based Raddon Financial Group
's Crystal Performance Award, which recognizes the top ten credit unions with $500 million or more in assets for exceptional growth, income, efficiency and margin management, and the CU's 2010 financials show why.
As a bonus, according to a study by Raddon Financial Group
, even though the shared branching users only make up 6.8% of all the households at the average credit union, they bring in 12.7% of the total profit.
One consultant, William Handel, vice president of research at the Chicago-based Raddon Financial Group
, maintained that Gulf Winds' move, rather than Pen Air's, more accurately reflects the current trend of CUs and banks preparing to curtail rewards programs.
Vahrenkamp comes to CFCU with eight years of experience at Raddon Financial Group
assisting banks and credit unions on pricing, product development and strategic planning.
Commissioned by more than 200 financial institution clients of the Raddon Financial Group
, a syndicated research study explored consumer demand for and usage of financial products and delivery channels.
"It will still be these two areas leading the way, albeit at a reduced rate," said Fabio Biasella, vice president and managing director of strategic advisory services for Raddon Financial Group
. "In response, I have seen credit unions begin to revisit their investment and insurance programs as alternate sources of steady fee revenue.