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Credit unions ruled in a new ranking of the top mobile banking apps.
Eight out of 10 of the best mobile apps of 2014 came from CUs, according to a study by MagnifyMoney, a New York-based financial product comparison website founded by two former bankers turned consumer advocates.
MagnifyMoney evaluated iOS and Android banking apps from more than 100 banks and CUs. The data was then converted into a composite rating between 1 and 5-weighted by reviews on both iOS and Android platforms.
With a rating of 4.7, the five top mobile banking apps were all from credit unions: Eastman CU, ESL CU, Redstone FCU, SEFCU and Vystar CU.
With $3 billion in assets, Eastman is based in Kingsport, Tenn.; Rochester, N.Y.-based ESL has nearly $5 billion in assets; Redstone is based in Huntsville, Ala., and has $3.7 billion; Albany,...