Estimated Payout: Varies
Proof Required: No (automatic payments)
What’s This Settlement About?
Apple Federal Credit Union has agreed to a $2.5 million settlement to resolve claims that it improperly charged overdraft fees on debit card purchases and ATM withdrawals. The lawsuit alleged breach of contract and violations of Regulation E under the Electronic Fund Transfers Act. Although Apple FCU denies any wrongdoing, it chose to settle to avoid the costs and uncertainty of a trial.
Total Settlement Amount
The total settlement is $2,500,000, plus an additional $35,530 in fee forgiveness for certain uncollected overdraft fees.
Who Qualifies?
You’re eligible if you held a checking account with Apple Federal Credit Union and were charged an overdraft fee between January 7, 2021, and March 31, 2024.
Key Dates
- Exclude Yourself or File Objection by: April 20, 2025
- Final Approval Hearing: June 17, 2025
Do I Need to File a Claim?
No. If you’re eligible, you will automatically receive a payment or account credit—no claim form required.
How Much Will I Receive?
Payout amounts vary. The settlement fund will be distributed evenly among eligible members after legal fees and expenses are deducted.
When Will Payments Be Made?
If the settlement is approved on June 17, 2025, payments or credits are expected to be issued within 40 to 60 days. Delays may occur if there are objections.
Claim Form Website: [Settlement Site]
