Cover Me

Problem:

Non-interest income is subject to more scrutiny than ever before in the financial sector at a time when financial institutions are becoming increasingly dependent on this revenue stream.

Solution:

Cover Me is a progressive service credit unions can offer that will assist consumers in managing their finances when, where, and how they choose to do so. The service further strengthens the industry’s overall guiding philosophy of being there for the member when they need it, offering the consumer a more cost-effective way to manage overdrafts, and “doing what is right” for the credit union member owners.

Test Results:

Survey fielded to 128 respondents, where 71% would be willing to pay a small transfer fee to avoid NSF.