The $367 million CBC Federal Credit Union and $468 million Water and Power Community Credit Union have joined the iPhone app revolution.

The Oxnard Calif.-based and Los Angeles-based credit unions, respectively, are the latest to leverage the marketing potential of smartphones with the free CU Mobile Marketing app, its developer said.

Developed by credit union marketing agency Data Based Marketing specifically for financial services, the iPhone app has been designed with an eye on helping credit unions more effectively connect and communicate with members.

In addition to providing members on-the-go access to their accounts, the app makes it easier for credit unions to deliver targeted news, offers and promotions based on members' interests and needs.

According to Dave Dawson, founder of Data Based Marketing, with mobile as a new communication channel for financial service providers, there's a need for this type of marketing tool in existing mobile banking functions.