Grow Member Wallet Share with Value-Added Checking

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What do credit unions have that mobile-first fintechs don’t? As many users, for one. More Millennials and Gen Y use app-based banking products than primary checking accounts at every credit union…combined. It seems the only path is to better compete on price. Free-er checking, scratch that…free-est checking! Forget the toaster,…

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Business Value-Added Checking: Pros & Cons

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Business Checking. The basic model hasn’t changed much in, oh, forever. So, what’s new? Well, FinTechs and neo-banks are finding a number of opportunities. They’re simply cloning the existing template, while making all aspects easier, faster, less costly and more convenient. Unsurprisingly, these companies are increasingly gaining market share. What…

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What is Business Value-Added Checking? (Definition & Benefits)

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Growing Deposits Through Business Value-Added Checking In the last three years, the top three banks – Bank of America, JP Morgan Chase and Wells Fargo – took in nearly 50% of the new deposit accounts. The remaining 50% was split among savings and loans, credit unions, community banks, and fintechs. …

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What is Value-Added Checking? (Definition & Benefits)

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Checking is Checking is Checking? At least it used to be. There’s a lot more to the “bread-and-butter” account of most financial institutions. Whether offering Free Checking, a standard fee-based checking account, Rewards Checking, or new Value-Added Checking (also known as “subscription checking”), decisions must be made to retain account…

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