CUNA is now America’s Credit Unions. A stronger voice to advance the credit union industry.
By Mark Roe, Executive Vice President, ADVANTAGE October 27, 2023
Is your overdraft program on autopilot? Does it rely solely on the functionality of your core processor? If so, you may get a basic level of service from your core, but are you certain how you handle overdrafts and NSFs complies with UDAAP practices? Your core may give you the technical abilities, but it likely misses the mark in delivering the type of expert guidance, training, monitoring, and customization necessary to offer a consumer-friendly and compliant program built for long-term results.
A consulting partner with compliance experience can put your program and strategy on the right track and keep it there. Working with a partner can provide ongoing returns for your investment, including a responsible service your members can depend on, with numerous benefits that add up to undeniable value.
Here are five ways you could be missing out if you’re managing a DIY overdraft program:
In the ever-evolving financial landscape, embracing the expertise of a consultant isn't just about staying competitive; it's about setting your institution on a path of unwavering success. Invest in the insights, experience, and knowledge that only a consultant can bring to your overdraft program and watch not only your credit union but also your members thrive with confidence.
Check out our webinar “Overdraft Litigation: Evaluating Your Risk Factors” now available on-demand.
ADVANTAGE is a strategic alliance provider for CUNA Strategic Services. Connect with ADVANTAGE to discover how to elevate your overdraft program or to request a complimentary program evaluation.
ADVANTAGE, powered by JMFA, is dedicated to empowering financial institutions with strategic solutions for growth and success. Our comprehensive services include overdraft program consulting and compliance, checking account acquisition strategies, contract negotiation expertise, and consulting for technology strategy, evaluation and selection. With a rich history of serving credit unions nationwide, we are committed to delivering exceptional value and fostering long-lasting partnerships. Choose ADVANTAGE, to elevate your performance, identify new opportunities, and build more value.