CUNA released its 2015-2016 Fees Report, which measures and evaluates fee income areas for credit unions nationwide and offers guidelines for institutions wanting to evaluate their own fee income programs.
According to the study, checking account fees proved to be the largest income sources for credit unions, accounting for slightly more than 40% of fee income overall. The category, which ranks a few percentage points higher than it did several years before, included NSF, courtesy pay and overdraft protection fees.
Despite that, 79% of all credit unions surveyed offered some form of "free" checking, a much higher rate than the banking industry, in which only 38% of institutions offered free checking according to Bankrate.com's 2014 Checking Survey.
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