MONTGOMERY, AL (January 4, 2022) |
MAX Credit Union, based in Montgomery, AL is changing the narrative on fees. Effective today, MAX is taking a strong stance to put members first by eliminating non-sufficient funds (NSF) fees and offering a grace on overdraft charges. This new policy will ease the financial burden caused by fees for many members and supports national movements designed to make banking more equitable.
“We understand NSF fees can be punitive and we will not charge members unnecessary fees and penalties,” said MAX CEO, Martin Head. “Starting now, if we don’t pay your transaction that overdraws your account, you don’t pay any fees.”
In addition to eliminating the NSF fee, MAX will help members avoid the extra charges created by fees when they come up short from time to time. There will not be any fees charged if the account does not exceed $10 overdrawn.
“The credit union’s mantra is ‘people helping people,’ and we are going to do just that,” said MAX Chief of Operational Excellence, Cheryl Payson. “We believe this change is the right thing to do as we diligently work to better serve our members and communities.”
MAX provides members with tools to prevent overdrawing their accounts in the form of account alerts to notify them when their account dips below a specified balance and card controls to monitor and limit daily spending. The credit union also offers free online personal finance courses and in-person financial education programs to help members gain confidence in managing their money.