US Eagle Federal Credit Union Eliminates Overdraft Fees

News provided by

Oct 21, 2021, 09:30 ET

ALBUQUERQUE, N.M., Oct. 21, 2021 /PRNewswire/ -- US Eagle Federal Credit Union announced today the elimination of overdraft fees for all checking accounts. US Eagle is the first financial institution headquartered in New Mexico to eliminate overdraft fees on business and personal checking accounts.

"Getting rid of overdraft fees is the right thing to do, and it speaks directly to our brand promise of people mean more," said Marsha Majors, CEO of US Eagle. "As we get ready to celebrate International Credit Union Day on October 21, we wanted to demonstrate that we not only believe in the co-op values credit unions offer but we live them. People will always mean more at US Eagle and, in this case, more than profits."

The average overdraft fee in the U.S. has increased 50% since 2000. In 2020 alone, Americans paid $12.4 billion in overdraft fees. US Eagle feels this is no longer sustainable for families, especially with nearly 80% of those paying punitive overdraft fees living paycheck-to-paycheck. US Eagle Federal Credit Union is the only Credit Union headquartered in New Mexico that doesn't charge overdraft fees on checking and business accounts.

"A Credit Union is a cooperative and owned by their members," said Marsha Major. "Together, we have grown and become financially stronger, which allows us to provide even more benefits to our members."

Learn more at NoSillyFees.org.

About US Eagle
US Eagle Federal Credit Union is the state's longest-standing member-owned credit union. Founded in 1935, US Eagle offers a full suite of financial products and services and has ten locations in Albuquerque, Bernalillo, Farmington, and Santa Fe. With assets of more than one $1.1 billion, more than 80,000 members, and as a three-time Forbes^® Best-In-State Credit Union award recipient, US Eagle is where people mean more.^®

SOURCE U.S. Eagle Federal Credit Union