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Power Financial Credit Union President/CEO Allan Prindle joined us on the show to share his credit union's announcement that they are eliminating all overdraft and non-sufficient funds (NSF) fees to help strengthen members’ finances.
Allan outlines three other reasons why they commenced with this move, as well as what it says to the rest of the industry as yet another credit union (financial institution) is eliminating these fees.
Allan does point out that this move is not for everybody. Their plan has been in the making for quite a few years, as they have built safeguards to weather the absence of these fee-generated revenue.
Listen to the interview on CU Broadcast here.