RALEIGH, N.C.-With one exeption, credit unions that spoke with Credit Union Journal reported they have not altered pricing to encourage members to opt-in to overdraft programs. The $2-billion Coastal FCU in Raleigh, N.C., for instance, developed a unique promotion to charge a penny for overdraft fees if members correct the overdraft quickly (Credit Union Journal, Aug. 23).

The move led to significant media coverage for Coastal FCU.The one-cent overdraft fee applies when members correct the problem before 11 p.m. the same day they overdraft, or in cases where their account balances are not more than $10 in the red. Accounts that are more than $10 overdrawn after 11 p.m. are charged the standard $28 fee.

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