One Nevada Credit Union $2.75 Million Fees Settlement

If you had a checking account with One Nevada Credit Union and were charged overdraft or NSF fees between August 1, 2018, and September 22, 2023, you may be eligible to claim compensation from a class action settlement.

One Nevada Credit Union has agreed to pay $2,750,000 to settle a class action lawsuit for allegedly improperly assessing these fees.

Who are the class members?

To be part of the settlement class, you must meet the following criteria:

• You had a checking account with One Nevada Credit Union.
• You were charged overdraft or NSF fees between August 1, 2018, and September 22, 2023.

If you received a postcard notice, it indicates that you are a member of the settlement class and are entitled to receive a payment or credit to your account. This means you do not need to file a claim to receive compensation.

How much can class members get?

The settlement fund will be distributed among class members based on the number of fees they were charged. The exact amount each member will receive depends on the total number of claims and the fees each member incurred.

• Overdraft Fees: Members charged overdraft fees will receive a portion of the settlement fund.
• NSF Fees: Members charged NSF fees will also receive compensation.

Class members do not need to take any action to receive their compensation. Payments will be automatically distributed to eligible members.

$2,750,000 Settlement Fund Breakdown

The settlement fund of $2,750,000 will cover:

• Payments to class members.
• Attorneys' fees, which are not to exceed 33.33% of the settlement value.
• A service award of $5,000 to the class representative.
• Administrative costs for managing the settlement.

Important dates

• Fairness Hearing: January 7, 2025
• Deadline to File a Claim: Not applicable as no claim is needed.

When is the One Nevada Credit Union payout date?

The court will hold a final approval hearing on January 7, 2025. If approved, payments will be distributed to class members within approximately 90 days, assuming no appeals delay the process.

Why is there a class action settlement?

The lawsuit alleged that One Nevada Credit Union improperly assessed overdraft and NSF fees, violating consumer protection laws. The settlement avoids the costs and uncertainties of a trial.