Elimination of NSF Fees at ANECA
ANECA Federal Credit Union, a cooperative financial institution chartered for Caddo, Bossier and DeSoto parishes, has eliminated its overdraft and Non-Sufficient Funds (NSF) fees.
ANECA CEO David Wodke said, “These are challenging times, and these fees place even more stress on members who may be struggling financially. This is an opportunity put our membership first, and we are proud to have a positive impact on our community.”
These types of fees are a huge revenue generator for banks and other financial institutions. In the United States, overdraft fees generated over $12.4 billion in fee income in 2020.* ANECA already offers early access to direct deposit payments, and the ANECA team sees the elimination of these fees as yet another member-first solution.
ANECA will still offer its courtesy pay feature those who opt in. *Forbes.com