SARASOTA, Fla. – Sarasota Coastal Credit Union is hoping that a $15 savings withdrawal fee will make for shorter teller lines and encourage ATM usage. Members will now be charged $15 for every teller-assisted cash savings withdrawal made after four free ones per month. According to SCCU Vice President of Marketing Karen Kruszewski the credit union doesn't want members to pay the fee but change their behavior. "We've got people coming into the branches every day to get $5 for lunch," said Kruszewski. "That is the behavior we are trying to avoid." SCCU's ultimate goal is to save costs and reduce lines at its five branches. SCCU has $160 million in assets.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.