The Javelin researcher added: “Many credit unions still do not offer mobile banking apps and that is what users want.”

Monahan's research determined that the nation's biggest financial institutions have opened a widening lead when it comes to mobile banking. The report states, “Over twice as many consumers at the nation's giant banks (over $750 billion in deposits) are using mobile banking than are those at credit unions. At the nation's four giant banks, 37% used mobile banking in the past 90 days vs. approximately 22% at midsized and regional banks vs. just 14% of consumers at credit unions. Now that 92% of the top 25 largest banks by deposit size offer mobile banking, institutions that lack mobile banking risk losing valuable customers to those that offer it.”