Overdraft Protection


Credit unions offer overdraft protection services as a convenience and accommodation for their members, and members appreciate these services. There continues to be a very low number of complaints surrounding overdraft because of this preference to have the choice of overdraft. Often consumers turn to overdraft as their best option during times of financial distress, and their other options are much worse, such as a payday loan, or even worse an illegal offshore or online loan.

Where We Stand

CUNA is proactively discussing this issue with the Bureau of Consumer Financial Protection (BCFP) and on Capitol Hill. We do not support broad new regulation of overdraft services that would limit the flexibility of credit unions to structure their services appropriately, including the regulation of overdraft fees.   

What We've Told Lawmakers & Regulators
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