In a bold move that has been praised by consumers and industry experts alike, Amplify Credit Union made waves in 2022 by eliminating all fees for their members. This groundbreaking decision, spearheaded by CEO Kendall Garrison, has set a new standard for the banking industry and challenged other financial institutions to follow suit.
Garrison’s call for other bankers to also eliminate fees has been met with mixed reactions, with few taking up the challenge. Despite the potential financial risks, Amplify Credit Union has stood firm in their commitment to prioritizing the needs of their members over profit margins.
By removing fees for services such as ATM withdrawals, overdrafts, and account maintenance, Amplify Credit Union has demonstrated their dedication to providing a transparent and customer-focused banking experience. This bold move has not only strengthened their relationship with current members but has also attracted new customers who are seeking a more ethical and equitable banking option.
As the industry continues to evolve, Amplify Credit Union’s decision to eliminate fees serves as a powerful reminder that prioritizing customer satisfaction and financial well-being should always take precedence. CEO Kendall Garrison’s leadership in this initiative showcases the potential for positive change within the banking sector, and hopefully, more institutions will follow suit in the future.