Checking in on your Checking Accounts
Checking accounts are disappearing -
A recent CU Times survey of bank, thrift, and CU data shows checking accounts falling from 690 million in 2011 to a little over 600 million in 2017. A 12% loss in only 6 years.
What is causing this?? The rise of fintech companies, neobanks have made checking accounts an altogether easier, quicker, and less costly experience.
And with Walmart already in the checking account game, and Amazon in talks with J.P. Morgan Chase, one can speculate that many people will opt for the “Prime Checking” program.
What can you do to protect your checking accounts?
Offer your members more!
Value-Added Checking is a way to provide your members with more benefits than your traditional checking program. For a low monthly charge, your members (already accustomed through subscription services to paying for the benefits and services that they really want) will appreciate the added value.
What does Value-Added Checking offer?
ID Theft Protection, Monitoring, and Recovery
Cell phone damage insurance
Local business and online merchant discounts
and more!