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Add Iowa to the list of credit unions in Illinois, New Mexico, Florida, Wisconsin and Oklahoma that have either reduced or eliminated overdraft and non-sufficient funds (NSF) fees this year.
On Thursday, Affinity Credit Union ($139.7 million in assets, 13,387 members) in Des Moines, Iowa said beginning Nov. 1, the credit union will reduce its ATM and debit card purchase overdraft fees from $25 to $15 and eliminate overdraft fees for debit card transactions of $5 of less. According to the credit union, the reduction and elimination of the fees could result in a projected annual revenue loss of $200,000.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
