Credit unions become more bank-like on overdraft fees
Thursday, August 21, 2014 2:40 PM
Economic research firm Moebs Services released data showing that when it comes to overdraft fees, credit unions are closing in on banks, MarketWatch reported. Since 2009, credit unions have raised their overdraft fees 14 percent to a median fee of $28.50 in 2014; banks have raised their fees 3 percent over that period, although their median overdraft fee is still higher at $30. The difference in median overdraft fees has now narrowed to just $1.50 between the two institutions, while just five years ago that difference was double that at $3.