$750,000 iQ Credit Union overdraft fees class action settlement

iQ Credit Union has agreed to a $750,000 class action settlement to resolve claims it charged unfair overdraft and non-sufficient funds (NSF) fees.

The iQ Credit Union settlement benefits individuals who were charged overdraft fees on transactions that had sufficient funds at the time of authorization and NSF fees on second or third presentment of items that had previously been returned for insufficient funds between Dec. 12, 2018, and July 31, 2023.

iQ Credit Union is a financial institution based in Washington that provides personal and business banking services, including checking accounts, savings options and various types of loans.

The credit union has not admitted any wrongdoing but agreed to a $750,000 class action settlement to resolve the fee allegations.

Under the terms of the iQ Credit Union settlement, class members can receive a cash payment based on the amount they paid in challenged fees. Class members who paid a higher amount in fees will receive a larger share of the net settlement fund. Exact payment amounts will vary.

The settlement also includes $58,947 in forgiven fees that were assessed but not paid when an account was closed and the challenged fees were charged off.

The deadline for exclusion and objection is Aug. 19, 2026.

The final approval hearing for the iQ Credit Union overdraft fees class action settlement is scheduled for Sept. 25, 2026.

No claim form is required to benefit from the settlement. Class members who do not exclude themselves will automatically receive settlement benefits.

Who’s Eligible

The class action settlement benefits consumers who were charged an APSN fee or retry fee by iQ Credit Union between Dec. 12, 2018, and July 31, 2023.

Potential Award

Varies

Proof of Purchase

N/A

Claim Form Deadline

08/19/2026

Case Name

Thompson v. iQ Credit Union, Case No. 24-2-04242-06, in the Clark County Superior Court in Washington State

Final Hearing

09/25/2026

Settlement Website

ThompsonFeesSettlement.com

Claims Administrator

Thompson v. iQ Credit Union
P.O. Box 301130
Los Angeles, CA 90030-1130
[email protected]
888-808-6292

Class Counsel

Lynn A. Toops
COHEN & MALAD LLP

Marty Schubert
STRANCH, JENNINGS & GARVEY PLLC

Defense Counsel

Eric Evans
GORDON REES SCULLY MANSUKHANI LLP

Kimberley McGair
FARLEIGH WADA WITT