BSG Financial Group adds IH Credit Union to its CourtesyConnect®/CourtesyLimit™ Client Roster

BSG Financial Group, a provider of revenue-enhancing programs and compliance solutions for financial institutions nationwide, announced today that Springfield, Ohio-based IH Credit Union, Inc. has selected the company’s CourtesyConnect®/CourtesyLimit™ technology to manage its courtesy overdraft service.

According to credit union officials, IH Credit Union, with $314 million in assets, selected BSG Financial Group—displacing an incumbent third-party vendor it had engaged for 12 years—as a way to streamline overdraft management processes, while continuing to provide the same or better service that members have come to expect from the credit union. “We were looking for an alternative provider that could help us reduce the number of steps in the existing overdraft processes,” said Robb White, Chief Executive Officer of IH Credit Union. “We wanted a program that was easy for our employees to execute and simple for members to understand and use as well.”

In addition, the credit union sought to improve the methodology of setting overdraft limits in order to better meet members’ short-term liquidity needs. According to White, “We had been using a ‘one-size-fits-all’ approach to overdraft limits, but felt we should be more responsive to changes in our members’ financial situations.”

The web-based CourtesyConnect®/CourtesyLimit™ software automatically calculates individual, daily overdraft limits that change based on a member’s ability to repay the overdraft and its corresponding fees. The service covers NSF checks as well as ATM and one-time debit card transactions for those members who opt-in, thereby providing short-term liquidity for members who need to purchase necessities when they are short on funds.

In addition to calculating dynamic overdraft limits, the CourtesyConnect/CourtesyLimit software also provides detailed reporting, including usage, Reg E opt-ins/opt-outs/no responses, charge-offs and collections, to assist the credit union in effectively managing risk and overall program performance. BSG Financial Group additionally provides its CourtesyConnect/CourtesyLimit clients with a comprehensive set of best practices in order to effectively implement the service and comply with all federal guidelines regarding overdraft management.