Overdraft revenue Overdraft revenue for CUs dropped 5.3% in Q1. (Source: Shutterstock)

For the first time in five years credit unions experienced a year-over-year drop in overdraft revenue for the first quarter, suggesting that overdraft fees have risen to a breaking point for many members, according to new data from financial institution research firm Moebs Services.

Overdraft revenues at credit unions and other financial institutions for the first quarter of 2019 were $700 million lower than they were in the first quarter of 2018, according to the Lake Forest, Illinois-based company.

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?

Tina Orem

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.