Nassau Educators Federal Credit Union (NEFCU) Goes Mobile with mFoundry

Westbury, NY– October 14 , 2009 – Westbury, NY-based Nassau Educators Federal Credit Union (NEFCU) announced that it has partnered with mFoundry to generate a three-mode mobile banking solution for its more than 130,000 members. Featuring text messaging, mobile web and application technology, the program will make financial management possible anytime, anywhere for people with mobile phone access. 

The mobile banking program provides secure access to member accounts allowing members to check account balances, search transaction history, transfer money, and pay bills via their mobile device. The mobile banking services are being made available as a further enhancement to  NEFCU’s existing Internet Banking platform; these services allow for cross-functionality between the two mediums. At launch, the program will support interactions via text messaging (SMS), mobile web, and mobile applications. Support will also be provided for a native iPhone and iPod Touch application that will be distributed through the Apple iTunes App Store. 

NEFCU recognized the need for a mobile banking solution as a proactive response to the ever-growing world of technology and increasing capabilities of mobile devices. The Credit Union also observed that these services would be valuable and appealing to the population known as Generation Y. “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.  We have engaged in a very deliberate research and development process and we are delighted that it has yielded the full array of mobile access for our members,” stated NEFCU Executive Vice President and COO, Michael Egan. 

“With more than 250 million mobile phone users in the United States and the corresponding rapid growth of mobile data services, mobile banking is now becoming an expectation from banking customers,” said Drew Sievers CEO and co-founder of mFoundry. “Leveraging all three modes of mobility positions NEFCU to offer their members the most comprehensive solution available. We are thrilled to have a part in their future success.”

NEFCU and mFoundry have set in motion the initial phases of the mobile services, which will be fully available in the first quarter of 2010.