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Community Banks Offer Better Deal on Overdrafts Than Small CUs: Moebs

New survey also finds large banks and institutions in the Eastern U.S. charge the highest overdraft fees.

overdraft map graphic Source: Moebs $ervices

A new Moebs $ervices survey demonstrated recent changes in the landscape of overdraft fees in the U.S., including average fee amounts by financial institution type and size, and the key role location plays in average fee amounts.

According to the survey of 3,126 banks, credit unions and savings banks conducted by the Lake Forest, Ill.-based financial institution research firm in November 2020, community banks with less than $100 million in assets charged an average overdraft fee of $26.26 – $2.14 or 8.1% lower than the $28.40 charged by credit unions with less than $100 million in assets. The survey included all depositories with more than $500 million in assets and a statistical example of depositories with less than $500 million in assets.

Natasha Chilingerian

Natasha Chilingerian

Natasha Chilingerian has worked in the credit union space for over a decade. She joined CU Times as managing editor in 2015 and was promoted to executive editor in 2019. Before that, she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union) in Los Angeles from 2013-2015, and as a CU Times freelancer from 2011-2013. She has been a professional writer and editor for more than 17 years, specializing in news and lifestyle journalism as well as marketing copywriting for companies in the finance and technology space.

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