The news: A recent J.D. Power survey revealed that overdraft and other fees are a significant concern for credit union members, especially the younger ones—with 31% of members under age 40 saying they may leave their credit union in the next year due to fees.
Dive deeper: Credit union members’ strong reaction to fees is eye-opening, especially because credit unions outperformed banks in customer satisfaction.
- Overall member satisfaction was 74 points higher than banks’ average score.