Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Banks charge twice as much biz checking fees than CUs
MADISON, Wis. (9/20/10)--Banks charge almost twice what credit unions and community-based financial institutions charge for business checking, according to a recent survey. Moebs Services recently conducted a survey of 2,300 banks and credit unions, and found that banks charge about $35 dollars for non sufficient funds fees. Credit unions and community banks charge an average of about $25--40% less than banks for business checking, Chicago-based Moebs said. The median limit on all types of transactions for banks and credit unions is 150 per month. Credit unions and community banks charge 25 cents per transaction when accountholders exceed their monthly allowance, whereas banks charge 50 cents per transaction. Also, about 38.1% of credit unions offer free business checking, compared with 31.8% of community banks, the survey noted. About 42% more big banks offer free checking this year than last.


RSS





print
News Now LiveWire
Matz: Revised @TheNCUA #RBC rule for #creditunions 2 B unveiled 1/15/15, 90-day comment period to follow #newsnow http://t.co/qABhvghSTU
1 Day ago
Just announced: @TheNCUA board will consider a revised risk-based capital rule at its Jan 15 mtg. See #NewsNow Monday for more info.
1 Day ago
Nearing one-yr anniversary of data breach, @Target asks for class action suits to be dismissed via @BloombergNews http://t.co/kra6kupd35
1 Day ago
.@PeoplesTrustFCU has been recognized with the Juntos Avanzamos designation by @Cornerstone_CUL for its service to the Hispanic community
1 Day ago
#NewsNow: Rep. Hensarling names #HFSC subcommittee chairs. http://t.co/dXAMZdpn1p
1 Day ago