Press

Labor Credit Union announce a significant change in its fee structure that emphasizes its commitment to member welfare and financial health.

WASHINGTON, DC (March 12, 2024) — Labor Credit Union, a community-focused financial institution serving the Washington, D.C. area, is proud to announce a significant change in its fee structure that emphasizes its commitment to member welfare and financial health. Effective immediately, Labor Credit Union will no longer charge its members for unpaid and returned Non-Sufficient Funds (NSF) fees.

This landmark decision was made with the understanding that financial setbacks can affect anyone, and unexpected fees should not compound financial difficulties. By eliminating these charges, Labor Credit Union takes a significant step towards more compassionate banking, aligning closely with its core values of inclusivity, and convenience.

“Today marks an important milestone in our journey to create a banking environment that truly serves the needs of our members,” said Thomas Domingue, CEO of Labor Credit Union.

“Removing these fees is more than a policy change; it’s a reflection of our deep-rooted belief in providing financial solutions that are accessible, equitable, and supportive.”

Labor Credit Union’s decision to stop charging unpaid and returned NSF fees is expected to have a positive impact on its members, offering relief to those who find themselves in challenging financial situations. It is a move that reinforces the credit union’s position as a member-centric institution, dedicated to fostering financial stability and empowerment within the community it serves.

“This initiative is part of a broader strategy to enhance member experience and accessibility to financial services. Labor Credit Union remains committed to innovating and adapting its practices to meet the evolving needs of its members, with a focus on transparency, fairness, and inclusivity.” stated Amber Mooney, Vice President of Member Experience.

For more information about Labor Credit Union’s fee structure changes and other member benefits, please visit laborcu.org or contact Labor Credit Union at (202) 789-2901.

About Labor Credit Union

Labor Credit Union is a member-owned financial cooperative dedicated to providing affordable and responsible financial services to the Washington, D.C. community. With a commitment to excellence and service, Labor Credit Union offers a wide range of financial products and services designed to empower its members and contribute to their financial well-being.