GLENDALE, Calif.–Credit Union West has become the latest CU to eliminate non-sufficient funds and overdraft transfer fees, while also reducing overdraft fees for transactions honored through their courtesy pay program.
The $1.1-billion Credit Union West said that members with personal accounts will no longer be charged a $35 fee for returned checks or a $5 overdraft transfer fee when funds are transferred from a savings account or line of credit to cover a deficit. Additionally, the $35 overdraft fee charged for items being paid on a courtesy basis will be reduced to $25, the CU said.
“We view these changes as positive steps to improving the financial lives of our members and increasing the value we provide to the community,” said President and CEO Karen Roch. “We have a lot of hardworking Arizonans who are all on their own financial journey to success. Our objective here is to clear the path for those most in need of support to accomplish their goals.”
‘Empowering’ the Member
Added SVP/COO Ning Duong in a statement, “As a trusted financial partner, we are focused on creating experiences that empower our members. Through ongoing financial education and enhancements to our digital delivery channels, Credit Union West has been able to give our members better control of their finances. These fee changes are just another way we are showing our commitment to our members’ financial health.”
The credit union has approximately 87,000 members.
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