KENT, Wash. -- This holiday season Cascade Federal Credit Union has given its members the gift of no NSF or overdraft fees.
Cascade found that December is historically the month that sees the highest volume of NSF checks and decided to not charge members fees for the entire month of December. The credit union expects to save members more than $15,000 this month by not charging the fees.
Cascade President/CEO Dale Kerslake came up with the idea and has been an outspoken critic of banks and credit unions overcharge NSF/overdraft fees.
The credit union will release a letter in January letting members know the dollar amount of fees the credit union waived over the month of December.