Nassau Educators Federal Credit Union in Westbury, N.Y., is planning to offer its members a mobile banking service using software developed by mFoundry Inc.
The Larkspur, Calif., banking technology vendor announced last week that the credit union is working on a mobile service that would enable its 130,000 members to access their bank accounts and manage their money through text messages, downloadable applications or mobile phones' Web browsers.
The service is expected to be available next quarter, and the credit union hopes it will attract new, younger members.
"Mobile banking provides us with the opportunity to further meet the demands of our changing marketplace. We are hopeful that it will be particularly compelling to young adults," Michael Egan, an executive vice president at the credit union and its chief operating officer, said in an mFoundry press release.