TEXAS-BASED AMPLIFY CREDIT UNION DEBUTS FEE-FREE BANKING
Amplify Credit Union announced Wednesday (Feb. 9) that it is rolling out fee-free banking, so members won’t pay fees on checking, savings and business banking accounts — including account maintenance fees, regardless of balance. The Austin, Texas-based credit union also removed fees for wire transfers and overdraft protection. CEO Kendall Garrison said this could be a change for the industry, with bank fees rising to record highs and traditional banks charging more than ever. Interest that depositors earn on checking and savings accounts is also at an all-time low, according to the release.