Countering the frequent financial services industry practice of profiteering from consumer missteps, State Employees’ Credit Union (SECU) is proud to offer its members “Another Chance” against costly NSF fees and returned check charges. With Another Chance now in place, SECU members have the most consumer-friendly traditional checking and alternative checking services in the industry! The new program provides members another opportunity to better control their own financial well-being, with SECU serving as their trusted ally.

For over twenty years, SECU has offered a “true overdraft protection” program which is used by over 85% of the Credit Union’s traditional checking accountholders. True overdraft allows members to designate two SECU accounts as protecting accounts for checking. If a need arises, funds are simply transferred from the protecting accounts to the member’s checking. As technology has advanced, SECU has taken the opportunity to expand the true overdraft program in order to further minimize traditional returned check charges and to serve members with alternative checking needs. SECU has completed a series of updates to its overdraft program with an “all members are good folks attitude” --- with the belief that SECU members are responsible consumers and are trying to “do the right thing!”

An extension in the business day cutoff and the addition of a mobile text alert system set the stage for SECU’s newest service --- Another Chance. Another Chance gives traditional checking accountholders peace of mind by notifying them via text or secure message when there are insufficient funds in their checking account to cover an item. An alert provides these members with an early, “wake-up-call” reminder to make a deposit by the end of the business day, essentially giving them “Another Chance” to avoid an NSF fee. An additional way to help traditional accountholders avoid fees is SECU’s new NSF Fee Free Days, which has saved Credit Union members over $3.5 million in 2010 alone! NSF Fee Free Days were specifically designed for those members who may make an occasional mistake with their traditional checking account. By waiving any $12 NSF fees the member may incur on two days each year, SECU is giving members the “break” and trusted support that they deserve. SECU even has a new answer for members who are paying too many NSF and returned check charge fees, offering the new SECU Cash Points Global (CPG) account as an alternative checking service. Already being used by nearly 7,000 SECU members, CPG was put in place as a controlled spending account/card. Since all transactions are limited to the available funds in the account, the member avoids any potential for overdraft or NSF fees. The Cash Points Global account also includes availability of direct deposit, ATM access, Visa-branded worldwide convenience, and no-cost bill pay service. Traditional checking, alternative checking – SECU now has an answer for all our good members! Really good folks always deserve “another chance!”

Signing up for “Another Chance” is easy. Enrollment is online; and there is no charge for the service. Members simply provide mobile service contact information to SECU. No fine print, no trip wires, no gotchas checking – traditional checking and Cash Points Global alternative checking – now available for all the good folks at SECU. For additional information, see www.nsecu.org.

Sue Douglas, SECU’s SVP of Operations, comments, “It has never been the focus of SECU to benefit from members’ errors, and we feel confident that our efforts over the past two years have resulted in an overall plan that will minimize returned items and any potential fees for members. Another Chance is a terrific addition to SECU’s ongoing efforts to put financial literacy into practice and keep money where it belongs – in the pockets of our members!”

About SECU

SECU is a non-profit financial cooperative owned by its members. SECU has been providing the employees of the State of North Carolina and their families with consumer financial services for more than 70 years. Currently serving 1.6 million members, SECU provides services through 233 branch offices, over 1,000 ATMs, 24/7 call centers and a website—www.ncsecu.org.