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September 20, 2022

Nutmeg State Financial Credit Union ends fees for non-sufficient funds

Contributed Nutmeg State Credit Union.

Rocky Hill-based Nutmeg State Financial Credit Union announced it eliminated fees for non-sufficient funds effective Sept. 12.

A non-sufficient funds fee is charged when a payment transaction is returned unpaid due to a lack of funds in the account. 

The credit union also offers overdraft protection transfer from savings accounts fees. An overdraft fee is charged when the credit union completes the transaction by covering the dollar amount of the shortage, resulting in a negative balance.

Nutmeg State said the changes will benefit the credit union’s most vulnerable members. Non-sufficient funds fees typically affect people who are struggling financially. 

“Making changes to our overdraft and non-sufficient funds fee policies is another example of how we are helping members better manage cash flow, course correct when needed, and support overall financial well-being.” said Nutmeg State’s CEO John Holt. 

Nutmeg State has locations in Rocky Hill, Manchester, New Britain, Glastonbury, West Hartford, Orange, Stratford, Milford, North Haven and Norwalk.

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