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Call it an “equitable trend.” Call it “doing the right thing.” Call it “a smart business decision.” Call it “radical.”

Whatever it’s called, moves by credit unions that are reducing or eliminating traditional fees for members could be placed – and are in some cases – under the umbrella of the industry taking steps further into the relatively new eighth cooperative principle, diversity, equity and inclusion (DEI).

In mid-July, the $4.6 billion UW Credit Union in Madison, Wis., announced that it slashed its overdraft and non-sufficient funds fees by 83%.

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Michael Ogden

Editor-in-Chief for CU Times.

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