Notwithstanding the exit by big banks, Arizona's largest credit union, the $2.8 billion Desert Schools Federal of Phoenix, remains in the industry mainstream where it comes to free checking services with 62% of its members in the mix.
That assessment of its competitive stance on relationship pricing comes as media reports this week continued to highlight the departure of Bank of America, Chase and Wells Fargo from offering free checking services.
Since late last year, the banks have revamped their checking lineup to include new fees, thresholds and various other package hurdles to eliminate the free element. BofA said earlier this week that it was testing new checking products in Arizona, Massachusetts and Georgia with cutback forays underway in New Jersey, too.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 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.
