Financial credit

Power Financial Caisse populaire eliminates all overdraft fees and insufficient funds to strengthen member finances

Power Financial Caisse populaire

We help our hard-working members save more money for the things that matter most.

The Power Financial Credit Union (PFCU), one of South Florida’s largest credit unions, is pleased to announce that it will eliminate all overdraft fees and insufficient funds for its personal banking members and commercial. PFCU will be the only credit union in South Florida and one of the few financial institutions in the country to eliminate overdraft fees and insufficient funds.

“Banks and credit unions charged $ 30 billion in overdraft fees in 2020. But what’s even more striking about overdraft fees is that they disproportionately harm individuals and families. the most financially vulnerable, ”commented Allan Prindle, President and CEO. “We don’t think this is fair, so we decided to do what we always do and put the financial needs of our members first while taking the cutting edge action to eliminate all overdraft fees and insufficient funds. “

Overdraft fees can really hurt consumers by keeping them in the perpetual cycle of debt. A forgotten payment or an unforeseen expense can push those who live from check to check to overdraw their account and accumulate significant fees. With the elimination of overdraft fees and insufficient funds, the Power Financial Credit Union is making banking services more accessible, inclusive and forgiving.

Prindle added, “We help our hard-working members keep more money for the things that matter most. This member-driven engagement is what sets us apart from profit-driven financial institutions. By eliminating overdraft fees and insufficient funds, we put nearly $ 1 million a year back into the pockets of our members.

To learn more, visit http://www.PowerFi.org/Overdraft.

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About the Power Financial Caisse populaire

Serving the South Florida community since 1951, the Power Financial Credit Union (PFCU) is committed to helping its members improve their financial lives today and for generations to come. Power Financial Credit Union helps its members achieve financial freedom by combining free financial wellness resources with superior experience and personalized banking solutions, many with great rates, low or no fees, and exclusive discounts. Power Financial Credit Union Custom Banking Solutions for Individuals and Businesses including Mortgages, Home Equity Loans, Checks, Savings, CDs, Money Markets, IRAs, Credit Cards, auto loans, personal loans, business accounts, business loans, merchant services, payroll services, investments, and more. To learn more, please visit http://www.PowerFi.org.

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