An advertisement outside a San Diego County Credit Union branch in this photo taken November 20, 2023.
In the banking industry, customers receive an overdraft fee when they overdraw their checking account and the transaction goes through. Nonsufficient fund fees occur when a checking account is overdrawn and the transaction is declined. This story refers to the penalties collectively as overdraft fees.Unlike the state data, the NCUA report also included figures on federally-chartered credit unions.
She added, “This information is likely to be spun in a misleading and potentially inaccurate way, resulting in irreparable harm to the positive reputation credit unions have worked so hard to achieve.”The NCUA’s data includes fee totals from a number of credit unions based in San Diego County.