American Airlines Federal Credit Union (AA Credit Union) is taking overdraft protection to the next level.
FORT WORTH, Texas, July 13, 2011 /PRNewswire/ -- American Airlines Federal Credit Union (AA Credit Union) is taking overdraft protection to the next level. Starting this month, AA Credit Union will implement Bounce ProtectionPlus, an overdraft program that allows members to reduce their overdraft fee to just a penny in many situations.
Instead of charging the standard $25 fee each time a member has an overdraft, AA Credit Union will charge just one cent per overdraft, provided the member either:
- Corrects the overdraft before 10 p.m. CDT that same day, or
- Has a small overdraft that did not take the end-of-day account balance into the negative by more than $10.
"We believe this new member-friendly approach to overdrafts will allow members to skip the embarrassment of being declined and also feel reassured that they have funds available at any time," said Nancy Crouch, AA Credit Union's Director of Card Services.
"We know that our members occasionally have an emergency or make a small error when balancing their checking account," Crouch added. "And we believe that a small mistake shouldn't result in a big penalty, which is why we believe that Bounce ProtectionPlus takes overdraft protection to the next level."
Any checking account that remains negative by more than $10 after 10 p.m. CDT will still be charged a fee of $25 per overdraft. But with options like AA Credit Union's new CUAcce$$ Deposit service and CUAcce$$ Mobile, members can quickly view their balance and conveniently deposit checks using a scanner in their home or office, or make a transfer, easily avoiding an unnecessary fee.
These changes apply to all debit card and ATM transactions on checking accounts that have opted-in to AA Credit Union's Bounce ProtectionPlus overdraft coverage service.
About American Airlines Federal Credit Union
Founded in 1936, AA Credit Union now serves the present and retired employees of American Airlines, their family members and people who work in the air transportation industry. In its 75th year, AA Credit Union has more than 228,000 members nationwide and assets in excess of $5.3 billion. As a not-for-profit financial cooperative, AA Credit Union is committed first and foremost to enriching its member-owners' financial well-being through their participation in the products and services of the Credit Union. For more information, please visit www.AACreditUnion.org.
AA Credit Union is a registered trademark of American Airlines, Inc.
Federally insured by NCUA
SOURCE American Airlines Federal Credit Union