SEVEN GREAT REASONS TO OFFER CHECKING ACCOUNTS
The seven reasons your bank or credit union depends on checking accounts are:
- It’s the core account to establish a long-term customer relationship with your financial institution.
- Unlike other bank accounts, the checking account is sticky which means it stays with you a long time.
- The checking account provides your institution with ongoing cross-sell opportunities.
- The checking account balances enable your bank to increase its loan volume.
- They are a reliable source of funds for your institution.
- They provide a source of fee income from a variety of fees.
- They provide an ongoing branding opportunity both on checks and the debit card.