More and more credit unions are offering customers free online bill pay, according to a recently released survey.
Credit Union National Association's Center for Research and Advice said its 2004-2005 fee survey found that nearly 60% of credit unions now offer bill-paying in conjunction with Internet banking services, versus 50% in 2001.
The survey also found that 62% charge for bill-paying services, against 81% three years ago. The average monthly fee at credit unions that do charge is $5.17.
Vicki Joyal, the association's vice president of research services, said credit unions are "clearly" recognizing online bill pay's "mainstream usage, adherent benefits, and consumer reluctance to pay for this service."
