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Erasing overdraft fees on paper. Source: Shutterstock.

The Oklahoma City, Okla.-based WEOKIE Federal Credit Union is the latest cooperative to announce an elimination or major slashing of its overdraft and non-sufficient funds (NSF) fees. According to an announcement Monday from the $1.3 billion credit union, it will reduce these service fees by nearly half – from $27.50 per occurrence to $15 per occurrence – starting Sept. 1.

WEOKIE stated that the decision was made in the hopes of assisting Oklahomans struggling with financial hardships, especially during COVID-19, and that it “supports national shifts designed to create more equitable banking for everyone.” The change applies to all member accounts, including checking and savings.

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Natasha Chilingerian

Natasha has served as an editor for CU Times since March 2015. She also served as a communications specialist for Xceed Financial Credit Union (now Kinecta FCU) in Los Angeles from 2013-2015, and as a CU Times freelancer from 2011-2013. She has been a professional writer for more than 16 years, specializing in news and lifestyle journalism as well as marketing copywriting for companies in the finance and technology space.

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