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Arkansas Superior FCU Sees Growth in Mobile Banking Adoption
Wednesday, June 11, 2014 6:55 AM

Since introducing mobile banking to their membership in September 2013, Arkansas Superior FCU says adoption has been slow, but it is picking up. Last month, Carolyn Ashcraft, senior vice president of operations for the Warren, Ark.-based credit union, told the Leaguer that only about 4 percent of their membership had signed up for the credit union’s free mobile app within the first six months of offering it. Since then, the credit union has been much more aggressive in promoting the service.

“Currently, about 14 percent of our membership is utilizing mobile banking, so usage is growing,” she said. “Inquiries and moving money are being utilized the most.”

From the convenience of their mobile phone, Arkansas Superior FCU members can:

  • Check account balances
  • See recent activity
  • View transaction history
  • Transfer money between accounts
  • Find ATMs and branch locations

Ashcraft says the credit union will implement remote deposit before year end. While she recognizes that remote deposit is one of the most sought-out mobile banking app features, she is concerned about the risks associated with it.

“I do have some concerns about offering remote deposit, and that is why I registered for the Cornerstone Credit Union League’s Mainstreaming Mobile Remote Deposit Capture webinar,” she notes.

Presented by Lee Wetherington, the June 25 webinar will address adoption, deployment, operations, and risks.

“Based on the demographic we serve, I don’t anticipate that offering mobile banking will impact branch traffic; however, it is important that we offer convenience for our membership—particularly our younger members who have the expectation that they can access their accounts anytime and anywhere,” Ashcraft continues. “Remote deposit is a feature we will need to add, and I’m hopeful that the webinar will answer some of the questions and concerns that I have.”