CU members increasing checking account balances.

Checking account balances at credit unions spiked 3% during the 12 months ended June 30, 2018, but checking account balances at banks dropped 1.8% over the same period, according to new data from financial institution analytics company Moebs Services.

The Lake Forest, Ill.-based firm said the $2,837 average checking account balance at credit unions marked an all-time high and was largely due to offers of free checking accounts and lower fees compared to banks.

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Tina Orem

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