10. The Basics NSF Transactions by Transaction Type Source: FDIC Callahan & Associates estimate that roughly 56% of your total Overdraft Revenue will be in flux.
11. The Basics NSF Transactions by Transaction Type Source: FDIC The income at risk is driven by about 12% of your member-base
19. Educate Stick to the basics What is an overdraft and what will be different on August 15
20. Motivate Help the Member make an informed decision Provide “real world” examples with and without opt in
21. Get a Response Make it easy for the member to opt in Always provide a means to act Opt in form on Letter Secure form on Website Link to form from eMail Phone & URL in Statements Tools to Front Line Staff Outbound Calls if necessary
24. Intro Letter What is an Overdraft? What are the standard Overdraft practices? Real World Examples with and without opt in Form with opt in AND opt out options What fees will be charged if CU pays Overdraft? I want it! How do I authorize this? For a copy of this letter, email egagliano@MarketMatch.com
29. Buck Slip Sample Educate That means… Fee details Get a response Educate That means… How this is different Get a response
30. The 7 Right Questions It’s about being Consultative and taking an Advisory Approach.
31. The 7 Right Questions 1. Do you use debit cards frequently to make purchases because it’s convenient or you often do not have enough cash or other forms of payment with you?
32. The 7 Right Questions 2. Do you often get close to a zero balance on your account by the time you make a new deposit?
33. The 7 Right Questions 3. Are you often not sure of your account balance before making a purchase or cash withdrawal?
34. The 7 Right Questions 4. Do you often use your debit card when you are out of town and away from a XYZ Credit Union branch?
35. The 7 Right Questions 5. If you need to use your debit card for an emergency or unexpected purchase, would it be important for that transaction to be approved regardless of your account balance?
36. The 7 Right Questions 6. Though you do not anticipate taking your account to a negative balance, would you consider paying a fee for the convenience of completing a transaction if it took your account to a negative balance?
37. The 7 Right Questions 7. If you were trying to make a purchase for an amount of more than what is left in your account, would you rather pay a fee to avoid the embarrassment of being declined?
38. The 7 Right Answers 0-2 “Yes” No real need to opt in 3-4 “Yes” Don’t plan to use but may be nice 5-7 “Yes” Definitely need to opt in