NSF and junk fees have been a hot topic this year . Starting in the first quarter of 2024, the NCUA began requiring federally insured credit unions with over $1 billion in assets to separately report income from overdraft and NSF fees on the 5300 Call Report. With initial totals topping $915 million, the discussion surrounding fees and consumer impact will likely continue.
With the potential for legislative or regulatory changes on the horizon, Community Financial Credit Union ($1.6B, Plymouth, MI), knew it needed to act quickly. And the result? CloseEnuff – their new cashflow-boosting checking account feature.
During this webinar, Community Financial CEO Tansley Stearns, CEO, and Chief Experience Officer Danielle Milner will share best practices and lessons learned from designing this new product offering.
Webinar attendees will learn:
• Why the credit union set its sights on cutting “junk” fees from its checking products.
• How leaders explored a range of options and homed in on the best solutions.
• What the benefit has been to members and the credit union’s bottom line.
• Lessons learned, best practices, and what’s next for the cooperative.
