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Individuals who had a checking account with TTCU Federal Credit Union, formerly TTCU The Credit Union or Tulsa Teachers Credit Union, and whom TTCU charged an overdraft fee or insufficient funds fee between Aug. 31, 2015, and May 1, 2024, may be eligible to receive a payment, account credit or debt forgiveness from a class action settlement.
TTCU Federal Credit Union agreed to pay $3 million to settle a class action lawsuit alleging it improperly assessed overdraft fees, insufficient funds fees, overdraft transfer fees and related charges. The plaintiffs claimed TTCU assessed these fees in violation of the account agreement and implied covenant of good faith and fair dealing.
Who is eligible for an overdraft fee payout?
Class members must meet the following criteria:
- They had a checking account with TTCU Federal Credit Union, TTCU The Credit Union or Tulsa Teachers Credit Union.
- TTCU charged them an overdraft fee or insufficient funds fee between Aug. 31, 2015, and May 1, 2024
The settlement covers the following fees:
- APSN fees: Overdraft fees on debit card transactions where there was enough money in the account at the time of authorization but not enough at the time of settlement
- ACH RET fees: Fees labeled as “ACH RET FEE” on a statement
- Multiple NSF fees: Non-sufficient funds fees charged for ACH or check transactions that a merchant resubmitted after TTCU rejected them for insufficient funds
- NSF fees and OD fees charged instead of a transfer fee: Fees assessed when there were sufficient funds in a savings, money market or similar account to cover the transaction but the checking account had insufficient funds.
How much is the class action settlement payment?
In addition to cash payments, the settlement also includes an estimated $1 million in forgiveness of uncollected overdraft or insufficient funds fees that TTCU assessed but class members did not pay between Aug. 31, 2010, and Feb. 29, 2024.
The settlement administrator will determine the payment amount each class member will receive by the number and type of fees they paid:
- Current TTCU members will receive a credit to their account.
- Former TTCU customers will a cash payment.
- Class members with outstanding account balances will receive uncollected fee forgiveness.
No claim form required
Class members do not need to file a claim to receive a settlement payment or fee forgiveness.
$3 million overdraft fee settlement fund
The $3,000,000 settlement fund will include:
- Settlement administration costs: Approximately $190,815
- Attorneys’ fees: Up to $1,333,333
- Attorneys' litigation costs: To be presented to the court for approval at a later date
- Service awards to class representatives: $10,000 each to two representatives and debt forgiveness for one representative
- Payments to eligible class members: Remaining settlement funds
In addition to the cash settlement fund, TTCU will forgive approximately $1 million in uncollected fees.
Important dates
- Exclusion deadline: March 8, 2026
- Final approval hearing: April 28, 2026
When is the TTCU Federal Credit Union settlement payout date?
The settlement administrator will issue payments and fee forgiveness to eligible class members approximately 90 days after the court grants final approval of the settlement.
Why is there a class action settlement?
The class action lawsuit alleged TTCU Federal Credit Union improperly assessed certain overdraft fees, overdraft transfer fees and insufficient funds fees in violation of its account agreements and the implied covenant of good faith and fair dealing.
TTCU denies the allegations but agreed to settle to avoid the cost and uncertainty of further litigation.
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