From Candy Crush Saga to Google Translate, consumers have thousands of mobile apps to choose from, many of them free. While numerous people are quick to download music- or movie-streaming apps, not everyone is as confident with financial apps.
 
According to results from a Mid-Year Consumer Survey by Georgia Credit Union Affiliates, 48 percent of respondents said they don't use a financial app. The 51 percent who do said they mainly use it for basic banking needs. Forty-nine percent of respondents said they use a financial app to deposit or transfer funds, 40 percent said they utilize an app to track their financial accounts, 31 percent said they use an app to track where their money is going and 22 percent said they utilize an app to keep a mobile budget.  Forty-five percent of users said they aren't sure how safe their information is when using a financial app.
 
According to Snoop Wall, a global leader in data breach prevention, threats to mobile data security have made consumers wary of using third-party financial apps (those not created by a financial institution). In contrast, a survey conducted by Market Force Information found that 77 percent of consumers whose financial institution offers a mobile app have downloaded it, an increase of 5 percent over 2015, and 12 percent over 2014. Those who are 18 to 24 years old have the highest adoption rate at 92 percent. Half of those older than 65 use their financial institution's app.
 
As of June 2015, more than 100 billion mobile apps had been downloaded from the Apple App Store, according to Statista. In May 2016, Google announced that 65 billion apps had been downloaded from Google Play, which serves as the official app store for the Android operating system. In 2014, 36 percent of smartphone and 45 percent of tablet users had purchased at least one app for their mobile device. Industry figures show the number of mobile app buyers in the United States is projected to reach 85 million by 2019.
 
Insider's Perspective:

"There are many financial apps available to consumers that may be helpful with finances," said Misty Waldrop, marketing and education coordinator at Hallco Community Credit Union. "Third-party apps offer insight and suggestions for personal financing however, one of the most useful apps available to members is an app through a credit union. With credit unions expanding their digital footprint, they may offer just as many, if not more services than a third-party app."
                
Waldrop said many apps offer budgeting platforms, monthly monitoring, or offer suggestions for debt consolidation.  
 
"I recommend the mobile tools most readily available through a credit union first because they provide an extra sense of security and do not sell information to other parties," Waldrop explained.
 
Tips for Using Financial Apps Safely:

Confirm an app is legitimate - Check your financial institution's website to make sure an app is legitimate. If you want to use a third-party app to manage money, do the research. Check with the Better Business Bureau's comprehensive database and read customer reviews online before downloading a third-party financial app.

Streamline your finances - Stay organized by using a single app to streamline your finances. An added benefit to credit union membership is the mobile wallet Sprig by CO-OP. If your credit union offers it, it's essentially a virtual credit union where you can track all of your accounts and send money to friends.
 
Use advanced security - Take advantage of security features like a fingerprint ID or numeric passcode on your smartphone and on the app, if it allows it. This offers an added level of protection against fraud.