Pelican Refunds $50K in NSF Fees

Pelican Refunds $50K in NSF Fees

09/17/2012

Pelican State Credit Union has lived up to its reputation as "Best in Service" following Tropical Storm Isaac.

Because of the storm and resulting temporary branch closures, Pelican refunded almost $50,000 in NSF fees to its members in Louisiana and Mississippi last week.

"We knew that the storm and our closures could have caused our members to incur some unexpected expenses," said CEO/President Jeffrey K. Conrad. "To ease the burden and help our members move forward after the storm, we decided to refund NSF fees," said Conrad.

A NSF, or Non-sufficient Funds, fee occurs when a payment cannot be honored because there are not enough funds in the account. The 945 Pelican members who incurred NSF fees between August 28th and August 31st were refunded last week totaling $49,812.

In addition to refunding fees, Pelican activated its Disaster Relief Loan to help its members cover storm related expenses such as insurance deductibles, home repairs, tree removal, etc.

These gestures occurred right after Pelican was named "Best in Service" by Credit Union Magazine for its leadership and excellence in making its communities a better place to live and work. Pelican is the only Louisiana based credit union on this Best of the Best list compiled of award winning credit unions across the U.S.

According to the magazine, the credit unions on the list have received awards for a host of different attributes. Despite their diversity of awards, they all share a common theme – exceptional service to members, employees and their communities. Pelican's actions following Tropical Storm Isaac illustrate this point.

The article noted that Pelican is heavily involved in the community and sponsors numerous community events.

"Members are our number one priority; if you take care of your members everything else falls into place," said Conrad.

Conrad announced the Best in Service recognition to his staff by congratulating and thanking them. "Thank you for always giving your best to our membership," said Conrad.