Strunk
  • Partners
    • Quilo
  • Markets
    • Financial Services
    • Service Providers
    • Healthcare
  • Our Software
    • Risk Assessor
    • Policy Manager
    • Controls Manager
    • Issues Manager
    • Vendor Manager
    • Skills Manager
    • Overdraft Privilege
  • Connect
    • The Strunk Perspective
    • Contact Us
  • Login
  • DEMO
  • Menu Menu
  • Twitter
  • LinkedIn

Does Your Overdraft Payment Program Have Exclusion Creep?

January 22, 2020/in Banks, Credit Unions, Financial Services, Overdraft Privilege, Perspectives, Tips, Uncategorized/by Mike Sobba

For the past 27 years Strunk has been the leading provider of formal overdraft payment programs to financial institutions across the country. Many of these programs were put in place in the early to mid 2000’s, well before Regulation E changed the overdraft landscape in 2010.

Some financial institutions have let their programs die and others have put them on the back shelf as fee income derived from the service has gone down. Others continue to wonder what they can do to revitalize their 10-20 year old program.

So, what has happened? In virtually all financial institutions, the number of consumers participating in the formal overdraft program has dropped significantly. For one reason or another, the account holder has been taken out of the formal overdraft payment program. Strunk calls this “Exclusion Creep”. Virtually all of our 1,800 clients had 90%+ participation when the program was implemented but many institutions have 65-75% of their accounts in the program today.

Managing this is paramount to providing a good service to all of your customers and to maximizing fee income. Take a look at your consumer checking accounts and see if they have an overdraft limit assigned to the account. If not, re-qualify them and put them back in the program. Consumers want the service and managing the overdraft program like a line of business benefits everyone.

Does your financial institution have Exclusion Creep?

Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on WhatsApp
  • Share on Pinterest
  • Share on LinkedIn
  • Share on Tumblr
  • Share on Vk
  • Share on Reddit
  • Share by Mail
https://strunkaccess.com/wp-content/uploads/2020/01/forest.jpg 675 1200 Mike Sobba https://strunkaccess.com/wp-content/uploads/2022/03/Strunk-Original-300x100.png Mike Sobba2020-01-22 07:37:582020-02-27 06:08:59Does Your Overdraft Payment Program Have Exclusion Creep?

Recent Articles

  • ODP Manager Letters as NeededJanuary 18, 2023 - 10:00 am
  • The risks of working with vendors that have been sanctioned by the Office of Financial Assets Control (OFAC)January 11, 2023 - 10:00 am
  • Thirty Years of Overdraft PrivilegeJanuary 4, 2023 - 10:00 am
  • Give ODP Customers a Fresh Start using ODP ManagerDecember 21, 2022 - 10:00 am

GRC Topics

  • Banks
  • COCC
  • Compliance
  • Credit Unions
  • Financial Services
  • FINSYNC
  • Markets
  • Overdraft Privilege
  • Perspectives
  • Policy Manager
  • Quilo
  • Risk Manager
  • Sales
  • SOC2
  • Tips
  • Uncategorized
  • Vendor Manager
  • WBA
Schedule A Demo

An independent certified public accountant has examined Strunk’s operations and found them to be in compliance with the AICPA’s Trust Service Principles. It was determined that Strunk meets the Security, Availability, Processing Integrity, Confidentiality, and Privacy criteria for SOC 2 established by the AICPA.

© Copyright - Strunk | Privacy Policy | Security Policy | Business Continuity Policy
Scroll to top
Meet Quilo, Your All Digital Lending Officer