iQ Credit Union Overdraft Fee Settlement

Thompson v. iQ Credit Union challenges two fee practices: charging overdraft fees on debit purchases that were approved when the account had money, and stacking NSF fees each time a merchant re-submitted a bounced payment. The credit union will pay $750,000 into a fund and forgive nearly $59,000 in outstanding fees. Members do not need to file anything; the administrator calculates each person's share from the credit union's records and pays it out proportionally. August 19, 2026 is the postmark deadline to opt out or object, and the final approval hearing is September 25, 2026 in Vancouver, Washington.

iQ Credit Union members who, between December 12, 2018 and July 31, 2023, were charged overdraft fees on debit transactions that were authorized on sufficient funds (APSN fees) or were hit with repeat NSF fees when a returned item was presented again.

Automatic pro rata payment based on the challenged fees each member paid; no claim form is required.

No payment amount is ever guaranteed. Pro rata payouts shrink as more valid claims come in, and every payment waits on final court approval and any appeals.

No documentation is required. In fact, no claim form is required at all: eligible class members are identified from records and paid automatically.