CUs Outspend Banks By 2-To-1 On Tech.(Credit unions)(Survey)

SCOTTSDALE, Ariz. -- Industry insiders know credit unions are frequently on the cutting edge of new technology, but a new report shows that CUs are spending as much as twice as much money on technology as mid-size banks.

For the study, 62 credit unions with assets of at least $350 million took part and defined a mid-size bank as those between $1 and $30 billion in assets.

Cornerstone Advisors, Inc. President Scott Sommers said his credit union clients had been asking for a way to measure themselves against comparable sized banks as long as two years ago. The