SMITHFIELD, R.I. – Navigant Credit Union said it has made a number of policy changes related to its overdraft pricing.
Effective immediately, the $3.79-billion Navigant CU said fee schedules for its consumer and business account members have been changed, including the elimination of its overdraft fee, which previously had been $3, and the fee for its returned insufficient/uncollected funds, which had previously been $34).
In addition, the fee for paid insufficient/uncollected funds is being lowered, the credit union said.
‘Simple Oversights’
“More often than not, overdrafts are the result of simple oversights like forgetting to deposit a check or transfer funds from separate accounts, and we don’t believe our members should be penalized for that,” President/CEO Kathy Orovitz said in a statement. “Our goal in everything we do is to help our members improve their financial well-being, and we are proud to be a leading financial institution in Rhode Island to roll out these protections.”
A full summary of Navigant Credit Union’s new policies can be found at navigantcu.org/ODP.