Oregon State Credit Union announced changes related to insufficient funds and overdraft fees, following up a move in February that implemented early direct deposit.
Josh Whisenhunt, senior vice president of financial services, said OSCU reviews its fee structure annually.
Earlier this month, the credit union rolled back the fees charged to members who have insufficient funds in their accounts to cover a transaction. The credit union also raised the minimum transaction amount that would trigger a fee, and reduced the maximum number of NSF-returned-item fees that are charged in a single day.
At the same time, OSCU eliminated the fee charged when funds are transferred from a designated back-up account to cover an overdraft.
Laurie Roe, executive vice president/chief communications and experience officer, said early direct deposit enables incoming electronic funds transfer deposits to be posted as soon as the credit union receives the direct deposit from the payor.
“Early direct deposit has generated a lot of excitement since we first rolled it out Feb. 23,” Roe said in a press release. “Members are very happy to get their direct deposit paychecks and other EFT payments faster.”
Mathews named business loan officer
In other news, OSCU promoted Eryka Mathews to business loan officer. Mathews was previously a business credit analyst.
Mathews began her career with Oregon State Credit Union in 2018 as a financial services consultant. She transitioned into the Business Services department in 2019. As a business loan officer, she is responsible for developing and maintaining relationships with the credit union’s business members, and offering products and services that address the needs of the member’s business.