7 Reasons Why You Need to Offer Checking Accounts

SEVEN GREAT REASONS TO OFFER CHECKING ACCOUNTS

The seven reasons your bank or credit union depends on checking accounts are:

1. It’s the core account to establish a long-term customer relationship with your financial institution.
2. Unlike other bank accounts, the checking account is sticky which means it stays with you a long time.
3. The checking account provides your institution with ongoing cross-sell opportunities.
4. The checking account balances enable your bank to increase its loan volume.
5. They are a reliable source of funds for your institution.
6. They provide a source of fee income from a variety of fees.
7. They provide an ongoing branding opportunity both on checks and the debit card.

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