Study on overdrafts caused by debit transactions also finds courtesy pay services drastically increase fees paid by consumers.
Membership qualification confusion forces credit unions to offer better pricing and benefits.
While the perception about electronic payment options is important among small businesses, NACHA – The Electronic Payments Association and FIS found that not all firms have the scale and scope to adopt or offer them.
In 2012, 33,440 new members joined Bethpage, a 26% increase compared to 2011, the Long Island credit union said.
Since 2010, credit unions offering free checking dropped from 78% to 72%, while it plunged from 65% to 39% at banks.