Monday, March 24, 2014

CUs Generate More Revenues from Checking Accounts Than Banks and Thrifts

Moebs Services found that checking accounts at credit unions collected three times the fee revenue of bank checking accounts and five times the revenues of thrift checking accounts.

The results are from a survey of 2,890 Financial Institutions by Moebs Services between January 2, 2014 and January 10, 2014.

Checking account revenues at credit unions was 78 basis points (bps). In comparison, revenues on checking accounts for banks and thrifts were 25 bps and 15 bps, respectively.

Moebs Services noted that while credit unions have the reputation for low prices, they traditionally do not waive service fees. As a result, credit unions collect more revenues from their checking accounts than banks and thrifts.

Go to Moebs Services website.

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1 comment:

  1. AnonymousMarch 27, 2014 at 4:45 PM

    I would argue credit unions waive more services fees than banks any day of the week....

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