C-Plant Federal Credit Union $1.05M Overdraft Fee Settlement

Current and former account holders whom C-Plant Federal Credit Union charged overdraft fees on signature-based debit card transactions it authorized on sufficient funds and settled in the authorized amount between July 14, 2013 and Aug. 25, 2025, may qualify to receive a cash payment from a class action settlement.

C-Plant Federal Credit Union agreed to pay $1.05 million to settle a class action lawsuit alleging its practice of charging overdraft fees on certain debit card transactions violated the Kentucky Consumer Protection Act.

Who is eligible to receive an overdraft fee settlement payout?

Class members must meet the following criteria:

• C-Plant Federal Credit Union charged them one or more overdraft fees between July 14, 2013, and Aug. 25, 2025.
• The overdraft fee or fees were for a signature-based debit card transaction that C-Plant authorized on sufficient funds and settled in the authorized amount.

How much are settlement payments?

Pro rata cash payment: Eligible class members will receive a cash payment from the net settlement fund. The settlement administrator will determine the payment amount by the number of qualifying overdraft fees the individual class member paid.

No claim form required

Class members do not need to submit a claim to receive payment.

Payout options

• Paper check mailed to the address on file

Settlement fund breakdown

The $1,050,000 settlement fund will include:

• Settlement administration costs: To be determined
• Attorneys’ fees: Up to $350,000 plus expenses
• Attorneys' expenses: To be determined
• Service award to class representative: Up to $5,000
• Payments to eligible class members: Remaining settlement funds

Important dates

• Deadline to opt out: Aug. 5, 2026
• Final approval hearing: Aug. 28, 2026

When is the C-Plant Federal Credit Union overdraft fee settlement payout date?

The settlement administrator will issue payments to eligible class members approximately 65 days after the court grants final approval of the settlement.

Why did this class action settlement happen?

The class action lawsuit alleged C-Plant Federal Credit Union improperly charged overdraft fees on certain debit card transactions that it authorized on sufficient funds and settled in the authorized amount.

The credit union denied the allegations but agreed to settle to avoid the expense and risk of continued litigation.

Sources

1. Settlement website FAQ page
2. Class action settlement notice
3. Settlement agreement