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Overdraft Fees Tick Higher at CUs, New Survey Finds

“This is the first time in 19 years banks and CUs increased the OD price at the same time.”

Image: Shutterstock.

Banks and credit unions increased their overdraft fees in 2018, according to a new survey by financial institutions analytics company Moebs Services.

The median overdraft fee was $30 at credit unions and $32 at banks in 2018, representing a $1 increase at credit unions and a $2 increase at banks. The overall national median for depository institutions remained at $30, which is the same as during the Great Recession, the study noted. But the rise for credit unions and banks in 2018 was still notable.

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Tina Orem

 

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