Tell GreenState and Veridian Credit Unions to end the unethical practice of subsidizing free checking for the wealthy through a poverty tax on people who are already struggling financially!

GreenState and Veridian Credit Unions charge overdraft fees to their most economically vulnerable members. People who are already struggling financially are often saddled with $30 to $40 fees for every transaction that goes over their available balance. The same amount is charged whether the transaction goes over by a few pennies or by several hundred dollars. 

Many of these transactions are things that GreenState and Veridian have the power to deny since they are fully aware of the fact that the funds are not available.  GreenState and Veridian do not allow members to opt out. They offer "overdraft protection," but this just makes sure the transaction is processed; the member is still responsible for a hefty overdraft fee. If you opt out of overdraft "protection" they can still charge the fee even though the transaction was not processed and they did not lose any money. 

The only reasonable conclusion is that they let these transactions process to exploit the vulnerable position of their poorest members.

Finding out exactly what percentage of GreenState's yearly net assets come from overdraft fees is not possible based on the annual reports they post online. Information from Veridan will be posted soon.

https://www.greenstate.org/content/docs/Annual-Report-2021.pdf 

Tell GreenState and Veridian Credit Unions to end the unethical practice of subsidizing free checking for the wealthy through a poverty tax on people who are already struggling financially!