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Did Apple Federal Credit Union charge you an overdraft fee between January 2021 and March 2024?
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Individuals who had a checking account with Apple Federal Credit Union and were charged an overdraft fee between Jan. 7, 2021, and March 31, 2024.
N/A
Settlement Amount
Varies
Claim Form Deadline
04/20/2025
Exclusion Deadline (Opt-Out)
04/20/2025
Final Approval Hearing
06/17/2025
Apple Federal Credit Union has agreed to pay $2.5 million to resolve a class action lawsuit over allegations it unfairly charged overdraft fees on certain account transactions. The dispute centers around what are known as “authorized positive, settled negative” (APSN) transactions.
According to the lawsuit, customers were charged overdraft fees even though their accounts showed a positive balance at the time of purchase authorization. The plaintiffs claim this violated Apple Federal Credit Union’s own account disclosures, which allegedly promised not to impose overdraft fees under such conditions. These APSN fees have become the subject of increasing litigation nationwide, as banks and credit unions face scrutiny over how and when they assess penalties.
Apple Federal Credit Union, headquartered in Virginia, serves more than 200,000 members, including educators and government employees. The institution denies any wrongdoing but has agreed to resolve the claims without further litigation.
Eligible class members will receive automatic cash payments based on the total overdraft fees assessed during the settlement period.
Members charged $100 or less in overdraft fees during the class period will receive a proportional share of the total payout.
Members charged more than $100 will receive a proportional share capped at $100.
The exact amount each member receives will depend on the number of qualifying accounts and how many overdraft fees were assessed. All payments will be issued automatically—no claim form is required for eligible members.
Think you might have a case? If you believe you've been affected by a similar situation, browse our list of Class Action Lawsuits and Open Class Action Settlements you may be able to join!
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