RALEIGH, N.C. – State Employees’ CU, which has joined the fight against excessive overdraft protection fees, is introducing its own program aimed at lowering member costs for non-sufficient funds transactions.
“SECU has plans for three new services in 2010 to further help our members manage their checking accounts,” Jim Blaine, president of the $17 billion credit union, told members of Congress last week while he was testifying on behalf of a bill to reign in overdraft protection fees.
The SECU program will offer members two days a year when it will not charge an NSF fee for a returned item, although the item will still be returned.
Members can enroll to receive test messages on the morning of a day their accounts are overdrawn and be allowed a full business day to cover the overdraft.
And a cashpoints global account with which members will be issued a Visa check card for use in paying bills and other expenses without the possibility of being overdrawn.
