Non-interest income can keep a credit union afloat in times of economic decline. Credit unions must always be looking for ways to drive non-interest revenue to help maintain positive expense-to-income ratios. In order to drive this income forward CUs should better product offerings, and improving your portfolio of debit card services can help. Offering advanced card maintenance options for member’s debit and credit cards is one way to do this. Here are 3 secrets to boost non-interest income specifically through debit cards:

1. Overdraft Privilege. Provide members with flexibility by offering overdraft protection. This allows an account to go negative and saves members an embarrassing realization while shopping for groceries. Make members aware that each transaction taking the account negative merits an overdraft fee. Additionally, train MSRs to educate members on how to effectively use this privilege. Rather than swiping their card at three different stores and racking up $60 dollars in fees, withdraw the extra money needed to cover multiple costs in cash and only receive one fee. If members are properly educated, this privilege will keep them loyal to your brand while still generating non-interest income for your credit union. Also, be forgiving. Waiving fees for accidental use of the overdraft privilege can be a great time to build member loyalty.

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