UFCU is also experiencing strong adoption for its mobile deposit offering, an integrated component to its mobile banking applications, processing more than $2MM in mobile deposits per month. Due to the popularity of mobile deposit, UFCU will make mobile its primary remote deposit solution for consumers starting this July.

"Any bank or credit union can achieve similar or greater adoption results for mobile banking," said Bryan Mishkin, Senior Manager of eServices, University Federal Credit Union. "If a financial institution has a great mobile solution people want to use, offers intuitive mobile enrollment, uses cross-channel marketing dedicated to mobile conversion, and operates mobile as an independent channel, they too will exceed 20% adoption in the first twelve months."

Mishkin leads the credit union's electronic delivery strategies across mobile and online, and maintains that these four factors are essential to maximizing mobile banking adoption post-launch.

"If you read the news about mobile banking adoption, you'd think it's a miracle that University has achieved 25 percent adoption in nine months," said Drew Sievers, Co-Founder and CEO of mFoundry. "A recent white paper, suggested the existence of a 'glass ceiling' for mobile banking adoption - basically saying banks should expect adoption to slow down at 20 percent, once the early adopters have signed up. As UFCU shows, this doesn't have to be the case."

When asked if UFCU believes there is a 'glass ceiling' for mobile banking adoption, Mishkin simply said, "If you're using a great mobile banking product that users love, you're not going to have a problem with adoption. If you deliver a product that is hard to use and falls short of user expectations, than yes, you're going to see a slowdown once your early adopters have enrolled. Fortunately for us, our users love mFoundry's product."

"What's most interesting about our adoption numbers so far, is we're not just seeing early adopters enroll in mobile," adds Mishkin. "We've seen adoption of Mobile Deposit across all demographics. Mobile deposit has also been a huge boost for mobile banking adoption - many of our members have told me they enrolled in mobile banking for that feature alone and our staff has shared numerous stories of how mobile deposit has made members' lives easier. There is no question that mobile banking is one of the most valuable tools we have at our disposal for growing and maintaining our membership long-term."