ROBINS, Ga.–Robins Financial Credit Union said it has become the latest to eliminate non-sufficient funds (NSF) fees for all members.
Through the elimination of several fees, Robins Financial said its members will save an additional $5 million per year.
In a statement, the credit union said elimination of NSF fees is part of its “ongoing commitment to offering low or no fee services to their members. These changes complement the credit union’s mission to be Member Focused, Financial Partners, and Community Proud.”
In addition to eliminating the NSF fees, Robins Financial said it has also eliminated the $10 Bounce Protection fee if a transaction takes the account negative less than $50, and will continue to offer one free Bounce Protection fee per member account should the transaction take the account negative more than $50.
The courtesy pay program is optional and members can opt in or out at any time, the $4-billion Robins Financial stated.
The Hope
“Our hope is to see our members be more financially secure because of this action and promote financial fairness throughout our membership and help underserved communities,” said President and CEO Christina O’Brien in a statement. “We’re constantly working to offer the best value possible for our members.”
The credit union said it will continue to offer a no-fee Overdraft Protection Transfer service, and that members with a checking account can sign up for overdraft protection by linking their checking account to a savings account or even a Visa credit card.
The credit union has more than 243,000 members.