Overdraft revenues at credit unions and other financial institutionshave risen for the fourth year in a row, hitting $34.3 billion in2017, and credit unions have been turbocharging that growth,according to new data from economic research firm MoebsServices.

“OD revenue increased 3.0% industrywide in 2017 from 2016, thelargest increase since 2009, and is on pace to an all-time highabove $37 billion by 2020,” Moebs Services Economist and CEOMichael Moebs said.

Credit unions appear to have helped drive part of that rise,according to the data. Total overdraft revenue among credit unionsrose almost 5% during the year, compared to just 3% on average forbanks. Credit unions accounted for 19% of all overdraft revenue in 2017, compared to 79% forbanks and 2% for thrifts, the study also found.

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