LAKE BLUFF, Ill. — Forget that NFL quarterback Peyton Manning had a record-breaking regular season for touchdown passes and yardage.
Instead, look at the fact that Denver financial institutions are charging more for overdrafts ($33) than credit unions and banks in Seattle ($28.50) because that means the Broncos will win the Super Bowl.
That's according to a study by Moebs Services that found the team's city with the highest median overdraft fee wins the Super Bowl. The study analyzed the last two Super Bowl champs — the Baltimore Ravens (2013) and the New York Giants (2012) — to conclude the formula works.
Last year, Baltimore financial institutions charged a median fee of $30 per overdraft compared with $25 for San Francisco, home of the 49ers who were defeated by the Ravens.
In 2012, New York FIs charged a median fee of $30 per overdraft when the Giants knocked off the Patriots. The Boston core based statistical area charged $27 per OD that year.
"Everyone is interested in the Super Bowl, so we searched our extensive, statistical database of fees, rates and balances and found that in the last two Super Bowls the winning team was from a city that had a higher overdraft price than the losing team's city," said Michael Moebs, economist and CEO at Moebs Services. "Based on this, Denver will defeat Seattle and win Super Bowl XLVIII."
While Charlotte Metro CU in Charlotte, N.C., has no favorites in Sunday's game, it will be watching for other reasons. The $290 million-asset credit union has been unveiling new ad campaigns during the Super Bowl for several years, and the tradition continues on Feb. 2.
This year's campaign promotes mobile check deposit and the CU's P2P solution, Personal Pay. The theme is "Mobile Whenever Banking. Mobile Wherever Banking."
"We want consumers to know they can get the same mobile banking services at Charlotte Metro that they'd expect at a much larger institution," said Bob Bruns, president and CEO.
