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NEWS RELEASE 2008
ABA Media Contact: John Hall
(202) 663-5473
E-mail: jhall@aba.com
Strunk & Assoc.
Marc Paine
(800) 728-3116
E-mail: mpaine@strunklp.com
ABA ENDORSES STRUNK AND ASSOCIATES OVERDRAFT PAYMENT SERVICE
WASHINGTON, Feb. 14 – The American Bankers Association has endorsed Strunk and Associates' Overdraft PrivilegeSM Service Program, a depository fee-based discretionary overdraft payment service. This comprehensive and structured overdraft service is designed to compliment and enrich a financial institution's account service portfolio and to strengthen its ability to attract, retain and grow profitable account relationships.
The Strunk turnkey operational package includes processes and business support mechanisms that are configured to meet even the most stringent requirements for successful implementation, integration and control of all overdraft and non-sufficient funds account transactions. Strunk and Associates also backs their clients with verifiable operational procedures and engagements with legal experts specifically dedicated to regulatory compliance in the area of overdraft services.
The ABA and its affiliate, the Corporation for American Banking, conducted a thorough product review and analysis of Strunk & Associates' Overdraft Privilege Service, evaluating a wide range of factors including product functionality, regulatory compliance, management strength, financial soundness and customer service.
"We're pleased to endorse another quality product that can enhance our members' customer relationships as well as their bottom-line," said John C. Wolff, president of the Corporation for American Banking. "The ABA endorsement signifies our confidence that the services of Strunk and Associates have been thoroughly researched, tested and approved by bankers to support the industry's needs."
"We are proud that the ABA has found the service we offer to be deserving of its coveted seal of approval, and we look forward to working with the ABA to provide our Overdraft Privilege Service program to their members," said Bill Strunk, chairman of Strunk & Associates. "The ABA's independent review and endorsement of our service confirms that the Strunk & Associates' Overdraft Privilege Service offers substantial benefits to banks, their customers and the banking industry."
The American Bankers Association, on behalf of the more than two million men and women who work in the nation's banks, brings together all categories of banking institutions to best represent the interests of this rapidly changing industry. Its membership-which includes community, regional and money center banks and holding companies, as well as savings associations, trust companies and savings banks-makes ABA the largest banking trade association in the country.
Established in 1976 by Chairman William H. "Bill" Strunk, Strunk and Associates, L.P. is a financial institution advisory service recognized nationally for its innovative design, development, and implementation of the original "Overdraft Privilege Service Program." The firm's reputation is built on more than three decades of providing expert, objective, unbiased and independent advice to thousands of financial institutions, and is unmatched in its ongoing, real investments in, and commitment to, compliance and matters involving legal due diligence.
Strunk & Associates has built an unparalleled record of success with its discretionary overdraft payment program. Today, Strunk and Associates provides income solutions to nearly 2000 clients throughout the United States and the Caribbean. The company also offers new services and strategies designed to attract new accounts, increase customer retention and increase deposits.
More on Overdraft Privilege.
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