Courtesy Overdraft Privilege programs have been around for years but today they are more consumer friendly than ever before, which may be why consumer usage continues to increase. SmartStep Solutions has designed a comprehensive overdraft program with a strong social conscience for the Member and the comfort of a 100% compliance guarantee for the Credit Union.Considering customizing your own program? Consider this first....
Today’s successful overdraft program requires much more than turning on an overdraft limit. In our experience, most credit unions have implemented some “piece” of an overdraft program in response to the Reg E amendment in 2010. Unfortunately, this incomplete approach has resulted in unhappy members, little or no improvement to the credit union’s income and a non-compliant program.
Credit Unions nationwide have trusted SmartStep Solutions’ proven consultative approach of analyzing multiple areas of the Credit Union to create a customized program designed to optimize the credit union’s results and the members’ satisfaction.Our comprehensive solution includes:
- NO UPFRONT COST FOR THE CREDIT UNION
- 100% COMPLIANCE GUARANTEE
- Average increase of 132% in NSF income
- Guaranteed compliant disclosures, policies and procedures
- Creative marketing strategies to boost member participation
- Quick results with remote program implementation
- Web based training for schedule flexibility and expense reduction
- Secure, browser based management software
- Performance based pricing
Studies show that NSF and Overdraft Fee income is a major driver of non-interest revenue for credit unions, second only to debit card interchange fees. Our experience shows that programs left unmanaged typically lose an average of 57% of their income within the first 7 years.
SmartStep Solutions’ expertise with courtesy overdraft programs is a powerful tool for taking your program from good to GREAT! Our consultative approach begins with an intensive audit of your current program which includes:
- Analyzing your overdraft limit
- Reviewing your disclosures and policies
- Assessing employee knowledge
- Program compliance
- Member awareness and participation
If your overdraft program has been neglected, sitting on a shelf for years, you could be losing essential non-interest income. Let SmartStep Solutions revitalize and enhance your program!
Why Choose Smartstep Solutions? Year over year, SmartStep Solutions clients have generated over 3 times the amount of revenue generated by credit unions who implemented a program on their own or in conjunction with their core data processor. Our proven expertise, efficient implementation and dedicated support is what makes the difference.
Want to learn more? Watch our short, three minute video, register for an upcoming 30 minute informational webinar or simply contact us.
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