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5 Reasons Good Overdraft Privilege is Still a Consumer Service

Pinnacle OverdraftPrivilege Benefits Chart 2

While many financial institutions have let their overdraft privilege programs slip by the wayside after the implementation of Reg E in 2010, others have achieved success using fully disclosed, automated overdraft privilege programs. Good overdraft privilege programs provide your accountholders with stability and convenience while avoiding the embarrassment of a returned item. While not all overdraft privilege programs are the same, a specialized program that fits your financial institution provides a distinct consumer service that your accountholders value.

How Good Accountholder Service Can Increase the Bottom Line

Accountholder satisfaction plays one of the most important roles in a financial institution’s daily operations. Recent studies have shown that there is a financial gain for institutions that get accountholder satisfaction right. According to a study by the Aberdeen Group, when accountholders are satisfied, they will increasingly:

Few Consumers Take Simple Precautions With Mobile Devices

A large number of consumers who have not yet adopted mobile banking cite security concerns as the primary obstacle. However, new data shows that many Americans fail to take the necessary steps to protect all of the information already stored in their smartphones. 

Credit Unions Posted Record Earnings in 2012

Credit union programs across the nation have been attracting more members, as evidenced by recent data that shows record earnings for 2012. 

Urge Consumers to Plan Ahead For Emergencies

Most banks and credit unions help their customers and members plan for their futures by providing lucrative products, such as low-interest loans, rewards checking and educational products to help them make smart financial choices. However, several studies have demonstrated that one type of preventative measure consumers should be taking - and aren't - is building an emergency savings fund. 

Banks Projected To Put $118 Billion Toward Mobile Banking, Technology

Bank consultants have noted that advanced mobile technology is in high demand by customers, and many banks are shoring up their resources to devote more money to developing this technology.

Technology Crucial For Attracting Underbanked Americans

Community banks and credit unions that want to cater to underbanked Americans may have a greater chance of doing so through online and mobile technology, a new analysis contends.

Small Business Lending May Be Hampered By Deteriorating Credit Conditions, Delinquencies

More small businesses may be interested in securing small business banking products from financial institutions, but poor credit conditions and delinquencies may hinder their ability to secure credit.

Fed Official: Community Banks Can Grow Under New Regulations

Imposing regulations created under the Dodd-Frank Act may place burdens on the financial industry as a whole. However, Federal Reserve Governor Elizabeth Duke said she is confident that community banking programs can remain successful if they keep lending.

Credit Unions Focus On New Class Of Members: Young Adults

Credit unions across the country are launching financial literacy campaigns aimed at teaching elementary, middle and high school children money management basics.

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