Overdraft Protection Pioneer Bill Strunk Dies
HOUSTON – William “Bill” Strunk, founder of Strunk & Associates, a provider of overdraft protection programs for credit unions, has died at 69 following a battle with leukemia.
Strunk founded the consulting firm that bears his name in 1976, which is best known for its Overdraft Privilege Service Program. Today the company has more than 2,000 clients using its overdraft product. A few of the innovations developed by Strunk which are now standards in the industry include head-on drive-in systems, member satisfaction models, tele-banking, PIN and signature identification systems, and shared ATM networks.
Former NCUA Chairman Dennis Dollar, who now runs a consulting firm of his own and was a representative for Strunk, lamented his passing. “If everyone in the financial services industry had followed Bill Strunk’s approach to running overdraft privilege programs over the past decade or so, we probably wouldn’t have some of the new regulations and legislative proposals that we now face,” said Dollar.