The importance of remote banking was not widely understood or accepted in 2008. In just five years, however, the way members interact with their financial institutions has changed as evolving technology has ushered in a new era for financial services. 

The proliferation of electronic ­delivery channels and services such as e-statements, mobile banking, and remote deposit ­capture has reduced credit unions' dependence on brick-and-mortar branches. Today's members do not have to enter a physical branch to conduct simple banking transactions because they have access to a plethora of physical, online, and mobile delivery channels.   

In the fourth quarter of 2012, 57% of all credit unions reported offering e-statements and online bill pay. For credit unions with $20 million or more in assets, the number of credit unions offering e-statements and online bill pay jumped to 85% and 90%, respectively. More than 27% of credit unions offered mobile banking as of fourth quarter 2012. Nearly half or 49% of credit unions with more than $20 million in assets offered mobile banking. More than 7% of all credit unions in fourth quarter 2012 allowed members to deposit checks through remote deposit capture. That number doubled to 14% for credit unions with more than $20 million in assets.