Skip to main content

Significant reduction in overdraft fee.

 

OKLAHOMA CITY, Okla.––WEOKIE Credit Union has become the latest to announce a significant reduction in its overdraft fee.




The $1.3-billion WEOKIE said it is reducing its NSF charge by nearly 50%, cutting the fee to $15 per occurrence from $27.50.

WEOKIE Federal Credit Union is the first financial institution in Oklahoma to announce a decrease of their members’ overdraft and non-sufficient funds service charges by almost 50%. The applies to all accounts, including checking and savings.

“WEOKIE strives to be a positive force in the community, and many Oklahomans are facing financial hardships in the face of a pandemic and inflation,” said WEOKIE President and CEO Jeff Carpenter in a statement first reported by the Cornerstone CU League. “We are eager to step up and help our members’ financial well-being by delivering real solutions, building trust, and helping our members grow their savings.

‘Do The Right Thing’

“WEOKIE’s mission statement is, ‘Do the right thing,’ and I believe we are doing right by our members with this decision,” Carpenter added. “We believe this move is critical to achieving our vision of becoming our members’ most trusted financial partner and two of our strategic priorities related to providing financial well-being for all and delivering the benefits of a cooperative ownership.”

As CUToday.info has reported, WEOKIE is not alone in reducing its NSF fee. In Madison, Wis., UWCU has reduced its overdraft fee to $5. Ally Bank has announced it is eliminating its overdraft fees, and so have Alliant Credit Union and Westerra Credit Union.

Comments

Post a Comment

Please no profanity or political comments.

Popular posts from this blog

Syracuse Fire Department Credit Union

Remember, you're not alone with  NCOFCU.org Join/Upgrade Check out some of NCOFCU's additional features: First Responder Credit Union Academy Financial Literacy Podcasts YouTube Mini's Blog Job Board
Post a Comment
Read Complete Article HERE>»

Happy Holidays To All Who Serve

  Happy Holidays To All Who Serve 12/22/2025 10:28 am   By Grant Sheehan and Anthony Hernandez Every year, many Americans celebrate the joy of family and relief from work the holidays bring. Apart from the hustle and bustle, the holiday season is a special time to be with loved ones, engaging in family traditions and rituals, and making memories that will last a lifetime. However, not everyone gets to partake in the holiday gatherings.   There are over a hundred thousand military members serving in harm’s way or in 24-hour command center...
Post a Comment
Read Complete Article HERE>»

Is another housing bubble brewing?

While there have been fears expressed by some of a repeat of the housing bubble that led to the housing crisis just over a decade ago, numerous real estate analysts say they believe the market fundamentals are much stronger now and that the sharp increase in home prices reflects low rates, a lack of inventory, and demographics. To be sure, the market is hot in many markets, with home sellers receiving multiple cash offers, often over the listed price, on homes. Some analysts, including those at Swiss banking giant UBS, have published charts showing how home prices are outstripping both wages and rents, reported USA Today. Home prices have appreciated more than 60% since November 2012, incomes have only appreciated by 20% and rents by 30% over the same time period, the report added. “But unlike the real estate boom that led to the Great Recession, this nationwide price spike is not being fueled by a wholesale collapse in lender ethics,” USA Today reported “There aren't any low-doc o...
Post a Comment
Read Complete Article HERE>»

Sunday Reading - The gold standard, explained

  Gold Standard       The gold standard, explained A gold standard is a system where a country’s currency is pegged to, and can be converted into, a fixed amount of gold. It’s typically meant to create a sense of security in the country’s currency: When a government uses a gold standard , its currency can be exchanged for an equivalent amount of gold—although regulations around redemption vary by country.   After the Civil War, in 1873, America adopted the gold standard for the first time. At the time, if gold was priced at $100 an ounce, each dollar  rep...
Post a Comment
Read Complete Article HERE>»

NAFCU Economist: U.S. Might Dodge Recession

Curt Long said a strong jobs report shows resilience despite the Fed’s escalation in interest rates. By Jim DuPlessis | January 06, 2023 CUTimes Source: Shutterstock. NAFCU Chief Economist Curt Long said Friday the continued strength in the job market has increased the odds the nation will dodge a recession this year. The U.S. Bureau of Labor Statistics reported Friday there were 153.7 million seasonally adjusted jobs in December, an increase of 223,000, or 0.1%, from November and up 3% from a year earlier. The unemployment rate was 3.5% in December, down from 3.6% in November and 3.9% in December 2021. Long said December’s rate was the lowest in more than 50 years, while the labor force participation rate rose slightly. Seasonally adjusted average hourly earnings were $32.82 in December, up 0.3% from November and up 4.6% from a year ago, a slightly lower rate of increase from previous months. Curt Long “This is an unambiguously positiv...
Post a Comment
Read Complete Article HERE>»

Email and Text Message Etiquette

As we navigate our everyday communications, I want to emphasize the importance of practicing good email and text message etiquette. This enhances clarity and ensures that everyone feels respected and valued in our interactions. Email Etiquette: 1. Use a Clear Subject Line: A subject line that accurately reflects the content of your email will help recipients know what to expect. 2. Greet Appropriately: Start with an appropriate greeting, such as "Dear [Name]", "Hello [Name]," or "Hi [Name], which sets a positive tone. 3. Acknowledge Receipt: If you receive an email that requires a response, action, or information, please acknowledge its receipt. A simple reply confirming that you have received the email helps the sender know their message was received and provides an opportunity to clarify expectations. 4. Be Concise: Keep your emails clear and to the point. Avoid excessive details unless necessary. 5. Professional Language: Use respectful and professional l...
Post a Comment
Read Complete Article HERE>»

Mortgage Rates Decline to Their Lowest Levels Since April

WASHINGTON–Mortgage rates fell last week to their lowest level since early April. According to Freddie Mac, the standard 30-year fixed-rate mortgage averaged 6.87% in the week ending June 20, which was down from the prior week’s 6.95% average and marks the third consecutive weekly decline. Rates are down from a 2024 peak of 7.22%. “Mortgage rates fell for the third straight week following signs of cooling inflation and market expectations of a future Federal Reserve rate cut,” Sam Khater, Freddie Mac’s chief economist, said in a statement. “These lower mortgage rates coupled with the gradually improving housing supply bodes well for the housing market.” Most economists and forecasters expect rates ...
Post a Comment
Read Complete Article HERE>»

NCOFCU is working hard for you! Coalition of CU Groups Sends Letter to Congress on Tax Exemption

Take Action Coalition of CU Groups Sends Letter to Congress on Tax Exemption May 1, 2025 10:15 am No Comments WASHINGTON–A coalition of credit union organizations has sent a joint letter to Congress in support of the credit union tax exemption. As the CU Daily has been regularly reporting, credit unions are especially  concerned this year that Congress might revoke the tax exemption as it seeks ways to pay for expiring provisions of the 2017 tax cuts, which President Trump wants to see renewed. Sending the letter to Congress were the Defense Credit Union Council (DCUC), America’s Credit Unions (ACU), Credit Union Executive Society (CUES), National Association of Credit Union Chairs (NACUC), National Credit Union Management Association (NCUMA), Inclusiv, TruStage, Earnest Consulting Group (ECG), Callahan and Associates, National Council of Firefighter Credit Unions (NCOFCU), Metropolitan Area Credit Union Management Association (MACUMA), Association of Credit Union Audit and Ri...
Post a Comment
Read Complete Article HERE>»

Sunday Reading - 401(k) plans, explained

  Worker Nest Eggs       401(k) plans, explained Originally intended for corporate executives, the 401(k) is now, arguably,   the most famous section of the US tax code   and a staple in worker benefits packages and personal finance guides ( watch 101 ). Roughly 70 million Americans, with a total of more than $7T invested , use these long-term, tax-advantaged accounts to build toward a more secure retirement. Some critics claim that with 401(k) plans, companies offloaded the risk of retirement savings to workers without the training to avoid volatile portfolio mixes. Amid the 2008 financial crisis, many 401(k) plans lost over a quarter of their value , an event that hit those near retirement particularly hard. ... Read our full explainer on the plan...
Post a Comment
Read Complete Article HERE>»

Expiration of Emergency Exemption from Certain In-Person Meeting Requirements

To Federal Credit Unions Dear Boards of Directors and Chief Executive Officers: In March 2020, November 2020, and November 2021, the NCUA issued three letters to federal credit unions providing flexibility during the pandemic related to annual meetings. 1 In those letters, the NCUA recognized that the COVID-19 pandemic had created challenges for federal credit unions and their members. As a result, the NCUA provided federal credit unions with the flexibility to conduct their membership and board of director meetings completely virtually. This emergency exemption will expire on December 31, 2022. Specifically, in those actions the NCUA provided that a federal credit union could adopt at any time, by a two-thirds vote of its board of directors, and without additional NCUA approvals, a bylaw amendment to Article IV of the NCUA’s Federal Credit Union Bylaws. The letters to federal cred...
Post a Comment
Read Complete Article HERE>»