Buchanan v. Citadel Federal Credit Union

Update: The hearing in this matter is rescheduled to Monday, June 6, 2022 at 1:30 p.m. in Courtroom #11 of the Chester County Justice Center.

If You Paid Overdraft Fees to Citadel Federal Credit Union, You May Be Eligible for a Payment from a Class Action Settlement.

A $1,862,700.00 Settlement has been reached in a class action lawsuit about APPSN Fees (“Overdraft Fees”) charged on certain Point of Sale transactions by Citadel Federal Credit Union (“Citadel”) where there was a sufficient available balance at the time the transaction was authorized, but an insufficient available balance at the time the transaction was presented to Citadel for payment and posted to a member’s account. Citadel maintains that there was nothing wrong with the transaction processing practices it used and that it complied, at all times, with applicable laws and regulations and the terms of the account agreements with its members.

The Settlement Class includes former and current members of Citadel who were charged qualifying Overdraft Fees between August 16, 2016 and September 9, 2021. Excluded from the Settlement Class is Citadel Federal Credit Union, its parents, subsidiaries, affiliates, officers and directors, all Settlement Class members who make a timely election to be excluded, and all judges assigned to this litigation and their immediate family members.

If You Are a Current or Former Member of Citadel Federal Credit Union Who Was Charged Overdraft Fees between August 20, 2016 through September 9, 2021, your legal rights are affected whether you act or don’t act.

SUMMARY OF YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT
RECEIVE A PAYMENT	If you are entitled under the Settlement to a payment, you do not have to do anything to receive it. If the Court approves the Settlement and it becomes final and effective, and you remain in the Settlement Class, you will automatically receive either a payment by check or account credit.
EXCLUDE YOURSELF FROM THE SETTLEMENT	Receive no benefit from the Settlement. This is the only option that allows you to retain your right to bring any other lawsuit against Citadel about the claims in this case. If you want to exclude yourself from the Settlement, you must send a written request for exclusion by U.S. mail postmarked no later than March 8, 2022, following the instructions in FAQ 10.
OBJECT	Write to the Court, Plaintiff’s Counsel, and Defense Counsel about why you do not like the Settlement. You can object to any part of the Settlement, the Settlement as a whole, Class Counsel’s requests for fees and expenses, and/or Class Counsel’s request for a Service Award for the Class Representative. If you object, you will still be a member of the Class. You must follow the instructions and send your objection to the address set forth in FAQ 15 such that it is postmarked no later than March 8, 2022.
DO NOTHING	You will receive any payment to which you are entitled, and will give up your right to bring your own lawsuit against Citadel about the claims in this case.