Notice to all members that on December 29, 2022, all dormant Chequing Accounts will be charged a Dormant Account Fee of $40.00. This will impact any chequing accounts that have had no-member generated activity for 24 months or more.
This is not a new fee to Westoba Credit Union or for financial institutions. Westoba is formalizing the process on handling Dormant Accounts to create a more consistent experience for our members and the Credit Union.
If you have questions about your account, please call 1-877-WESTOBA (937-8622) or email firstname.lastname@example.org.
Frequently Asked Questions
Any Chequing or US Chequing Dormant Accounts (excludes Savings accounts) will be charged $40.00 on December 29, 2022. If the account has less than $40.00 any remaining balance will be collected to cover the fee. Example: If an account has a chequing balance of $0.88 a fee of $0.88 will be collected from the account.
At this moment Westoba is reviewing the fee schedule for the Dormant Account Fee. Going forward the Dormant Account Fee will be charged to any applicable Dormant Account annually, but Westoba will provide the schedule of when the fee will be charged at a later date. We appreciate your patience as we formalize the process.