Renovate Your Checking Account Workshop
Serve Your Members While You Prepare Your CU for Decreasing Overdraft Income
Overdraft revenue for all banks, credit unions and thrifts is about $32 billion per year and represents a significant share of overall revenue, especially for financial institutions below $10 billion in assets. For some credit unions and community banks, overdraft revenue represents the entire yearly net income.
The Consumer Financial Protection Bureau (CFPB) has announced its intention to issue new regulations regarding overdraft practices. While no regulations are proposed at present, industry analysts predict that the CFPB will seek to cap fees, impose limits on the number of times an account can be charged, and make it a requirement that banks check a borrower's credit-worthiness before providing an overdraft option.
If your credit union is looking for a way to proactively prepare for the regulatory changes while continuing to provide the checking account features your membership wants, this workshop is for you!
Part I: State of overdrafts in the US and Louisiana
- What is the overall revenue in overdrafts?
- What is the cost of checking and overdrafts?
- Factors in managing checking account risk
- Compliance in the design and revenue of overdrafts:
- Overdraft pricing - two dominant approaches in the marketplace
Part II. Case Analysis - Overdrafts and Checking Accounts
You will work with other credit unions in a team effort to come up with a 2016 plan for the Fitzgerald Credit Union. It’s a competition with other teams to see who can come up with the best overdraft solution.
Part III. Bonus Session - 60 Minute Interactive Phone Follow-up at Your Credit Union
Moebs will provide each attendee with a 60 minute follow up conference call to review key highlights from the Overdraft Workshop and also address questions that may arise after the workshop has concluded or those matters specific to your credit union.
Click here to view full program content.
About the Presenter
Mike Moebs, Economist and CEO, Moebs $ervices
Founding his economic research firm in 1983, Mike continues to be an economist who understands the challenges affecting financial institutions. Mike is perhaps best known for his firm's Financial Services Pricing Survey, published periodically with updates in February and November.
Click here to read Mike’s full bio.
Who Should Attend:
CEOs, CFOs, COOs, and other management or mid-management level staff involved in decision-making regarding CU product development. Also recommended for Compliance Officers with responsibility for implementing eventual CFPB regulations.