A small but growing number of credit unions are jumping on the mobile-banking bandwagon, even if most consumers are not quite ready to ride with them.

A June 2010 survey by the National Association of Federal Credit Unions in Arlington, Va., revealed that about 7.5 percent of its members currently offer mobile banking. According to the credit union consulting firm Callahan & Associates in Washington, D.C., 43 percent of credit unions said they planned to add a mobile-banking option in 2010, although some were holding back because of security concerns.

Consumers are even more cautious. In a September 2010 survey of U.S. and Canadian banking consumers by the research firm Empathica Inc., in Alpharetta, Ga., 51 percent of U.S. participants in the survey said they don't think mobile banking is secure.

Fagan expects mobile banking to catch on eventually, just as online banking and bill paying have done. "It took awhile for bill pay to adopt, and now it's got a pretty solid following," Fagan says. "(And online) banking is mainstream."