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overdraft fee statement with cash and coins Source: Shutterstock.

As of May 1, Robins Financial Credit Union ($4 billion in assets, 243,050 members) in Warner Robins, Ga., eliminated its Non-Sufficient Funds (NSF) – a move that credit union officials said will save members $5 million each year.

According to a statement from Robins Financial, the credit union will continue to offer no-fee Overdraft Protection Transfer service. “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. If sufficient funds are not available in the checking account when a qualifying transaction is processed, funds are then transferred from the linked account at no cost to the member,” the statement read.

Michael Ogden

Editor-in-Chief for CU Times.

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