Despite an increase in regulation and costs, credit unions are unlikely to abandon free checking anytime soon, according to Michael Moebs, economist and CEO for Moebs $ervices.
"Free checking is really a major symbol of the gap between banks and credit unions," Moebs said. "They're staying the course with it."
Moebs said credit unions are helping to pay for services such as free checking by increasing their overdraft fees. Overdraft fees at credit unions almost equal those at banks, Moebs said. He also said the revenue generated by overdraft fees is increasing among credit unions.
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