Why we do it

$17 Billion in wasted fees.

Banks previously covered overdrafts as a courtesy to their clients, today they rely on the overdraft fees for a significant portion of their revenue.  

FACT

25% of all bank accounts had an overdraft last year.

Banks are making a killing on minor OVERDRAFTS

Although it’s hard to quantify the revenue all banks make on overdraft fees, the Consumer Financial Protection Bureau estimates banks with $1 billion or more in assets totaled $11.42 billion on overdraft and nonsufficient-funds fees in 2016 (the second year banks with $1 billion or more had to make the data publicly available). The agency estimates that consumer overdraft and NSF fee revenues total as much as $17 billion annually.

PAYDAY LOANS & BANK SOLUTIONS DON'T HELP

Instant Funding - no waiting for hours or days, you have instant access to the funds via the CredSocial virtual account.

CredSocial is a complete end to end solution that provides our members with instant access to funds and makes a real impact on their day - immediately. Funds can be presented for payment to nearly any merchant instantly. 

2014 - 2020

YEAR by YEAR GROWTH

CredSocial is built on a new zero knowledge, blockchain protocol which we intend to make public and enable any forward thinking financial institution to use. In an effort to showcase our social and financial impact we are as transparent as possible in highlighting the source and use of funds to assist our members.