UW Credit Union CEO talks cutting overdraft fees and equitable banking

Written by on August 11, 2022

When UW Credit Union decided last year it was going to cut its overdraft fees, it got the attention of others in banking and officials in Washington, D.C.

UW Credit Union CEO Paul Kundert was called before the House Financial Services Committee to talk about how that change has impacted the credit union. 

“It provided us a chance to share our story and our thinking on overdrafts and how they affect consumers and what we experienced by reforming,” Kundert said. “This is something we feel passionately about.” 

Kundert recalls one of the committee members asking him “how can you afford to do this?” 

“We are able to acquire more checking accounts, we are able to retain more accounts,” Kundert said of the change in policy.

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