Addressing Consumer Needs With a Responsible Overdraft Program
By ADVANTAGE
October 16, 2024
Are your members getting the support they need?
Did you know that less than half of all Americans (49%) report having disposable income? As community credit union executives, your commitment to member well-being sets you apart, making it crucial to provide a reliable financial safety net during challenging times. A responsible overdraft program can be that safety net, helping members avoid the short- and long-term consequences of resorting to costly borrowing options.
In an evolving regulatory landscape, ensuring that your overdraft strategy is compliant and supportive is essential for maintaining member trust. ADVANTAGE’s CEO John Cohron shares valuable insights on when overdraft privilege is most beneficial for consumers and the risks associated with not offering flexible options.
About ADVANTAGE
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.