CrossState Credit Union Association leaders appeared on Pennsylvania Newsmakers recently to discuss the growth of mobile banking and how it protects against fraud. Michael Wishnow, CrossState Credit Union Association senior vice president of marketing and communications and Christina Mihalik, CrossState Credit Union Association senior vice president of government relations, appeared on the program. 

Wishnow discussed how consumers received stimulus money, still generally remain in debt, and are concerned about rising costs. All of this leads to more attention on their finances. 

"One of the biggest trends is increases in mobile banking, debit card use, and credit use, while seeing decreases in checks and cash," he said, adding that people are even increasing use of "voice payments," using smart devices like an iPhone's Siri. 

Mihalik said mobile banking is more convenient and provides fraud protection, but also helps keep credit unions competitive when offering services compared to larger institutions. 

"Debit cards are in a way being replaced by mobile banking, because it's more convenient, it's seeing increase use across all income groups," she said. 

The complete interview is available below.