Current and former members of eight British Columbia credit unions who were charged overdraft fees of more than $5 between 1994 and 2003 may qualify to claim refunds plus interest from the Bodnar v. Community Savings Credit Union class action settlement, which totals just under $8 million CAD. No documents are needed, and claims are open through January 27, 2027.
Current Status
Claims are open. The deadline is January 27, 2027. The Supreme Court of British Columbia approved the settlement in April 2023 and approved the eight settlement administration plans on July 29, 2026; notices went out and claims opened on October 27, 2026. Payments are expected from April 27, 2027, if no appeal affects them.Free settlement alerts
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What Changed Recently?
After more than two decades of litigation, the claim period opened on October 27, 2026 in Bodnar v. Community Savings Credit Union, Vancouver Registry No. S047104, a class proceeding in the Supreme Court of British Columbia over overdraft fees charged by eight B.C. credit unions before mid-2003. Class counsel, CFM Lawyers LLP, is also administering the settlements.The case alleged that overdraft administration fees above $5 meant the credit unions received interest at a criminal rate on the credit advanced through an overdraft, contrary to section 347 of Canada’s Criminal Code. The action was started in December 2004, growing out of an earlier 2003 class action against Vancity over the same kind of fee. It was certified as a class proceeding in 2019, and the B.C. Court of Appeal substantially upheld that certification in 2022, a ruling the approving judge described as settling the issue of liability. According to the court’s reasons, all of the credit unions cut their overdraft charge to $5 between February and July 2003, which is why the fees at issue are more than 20 years old.
On April 13, 2023, Justice Brundrett approved a settlement totalling just under $8 million CAD: $4,236,421 CAD in overcharges, which reflects a 10% discount, plus $3,742,130 CAD in negotiated prejudgment interest.
Who Qualifies?
Current and former members of the eight credit unions who were charged one or more overdraft administration fees of more than $5 during that credit union’s class period. Several have since merged or changed names, so the settlement goes by the name and place a member banked with between 1994 and 2003. An overdraft fee is the charge for withdrawing more than the money available in the account or on an authorized line of credit; NSF (non-sufficient funds) fees are not included.- Greater Vancouver Community Credit Union (now Greater Vancouver Credit Union): fees from February 1, 2002 to February 20, 2003.
- Comox Valley Credit Union (now Coastal Community Credit Union): June 1, 2000 to February 23, 2003.
- Chemainus Credit Union (now Coastal Community Credit Union): February 1, 2000 to February 24, 2003.
- Village Credit Union (now part of Vancity): January 1, 1997 to February 22, 2003.
- North Shore Credit Union (now BlueShore Financial): February 1, 1996 to February 25, 2003.
- Community Savings Credit Union, including IWA Credit Union and Community Credit Union: November 20, 1997 to March 1, 2003.
- Kootenay Savings Credit Union: August 1, 1995 to July 1, 2003.
- Vernon & District Credit Union (now VantageOne Credit Union): September 2, 1994 to February 20, 2003.
How Much Can You Get?
Each credit union has its own fund and refund formula, according to the official settlement website:- Greater Vancouver: $1 for each qualifying overdraft fee, plus interest.
- Comox Valley and Chemainus: $10 for each qualifying fee, plus interest.
- Village: $20 for each qualifying fee from November 10, 2000, plus an estimated amount for fees from January 1, 1997 to November 9, 2000, plus interest.
- North Shore: up to $15 for each qualifying fee, plus interest.
- Community Savings: up to $508.73, plus interest.
- Kootenay Savings: up to $286.45, plus interest, based on the number of months a member paid overdraft fees.
- Vernon & District: up to about $49.55, plus interest.
What Proof or Notice ID Is Required?
None. The claim form asks for the Claim ID printed on the notice only if the member has one; a member who did not receive a notice can leave it blank and still claim. No documents are required, because each credit union checks eligibility against its own banking records. Account statements from before March 2003 can be attached to help validate a claim but are optional. The refund is paid only to the member named on the claim.What Is the Deadline?
Claims are due January 27, 2027. That is also the last day to opt out, which takes a letter to class counsel postmarked on or before January 27, 2027; an email or phone call is not enough. Opting out of one credit union’s settlement does not affect any other.How Do You Take Action?
Claims are filed through the official credit union class action website, which has a separate claim page for each of the eight credit unions. A member who belonged to more than one files a claim in each. Claimants choose payment by Interac e-Transfer or by cheque, which can be deposited only to an account in the claimant’s name.What Happens Next?
After claims close on January 27, 2027, every claimant is to be told by March 1, 2027 whether the claim is approved and the amount. The appeal deadline is March 30, 2027, and payments are expected from April 27, 2027, if no appeal affects them. E-Transfers or cheques left uncashed after six months go to the same charities as the unclaimed funds.Sources and Verification
This page is based on the official settlement website and its posted documents, checked November 2, 2026, and on the court’s oral reasons approving the settlement, Bodnar v. Community Savings Credit Union, 2023 BCSC 934 (April 13, 2023). It is not legal advice.Questions
Which credit unions are in the BC overdraft fee settlement?
Eight: Greater Vancouver Community Credit Union (now Greater Vancouver Credit Union), Comox Valley Credit Union and Chemainus Credit Union (both now Coastal Community Credit Union), Village Credit Union (now part of Vancity), North Shore Credit Union (now BlueShore Financial), Community Savings Credit Union (including IWA Credit Union and Community Credit Union), Kootenay Savings Credit Union, and Vernon & District Credit Union (now VantageOne Credit Union). Each has its own settlement, fund and claim form.
Do I need proof or a claim ID to file?
No. The claim form asks for the Claim ID from the notice only if the member has one, and a member who did not receive a notice can leave it blank. No documents are required, because eligibility is checked against the credit union’s own banking records. Old account statements from before 2003 can be attached but are optional.
How much will I get from the credit union overdraft settlement?
It depends on the credit union and how many qualifying fees a member paid. The official site lists refunds of $1 per qualifying fee at Greater Vancouver, $10 per fee at Comox Valley and Chemainus, $20 per fee from November 10, 2000 at Village plus an estimate for earlier fees, up to $15 per fee at North Shore, up to $508.73 at Community Savings, up to $286.45 at Kootenay Savings and up to about $49.55 at Vernon & District, each plus interest. If approved claims exceed a credit union’s fund, claimants share it pro rata.
I was a member of two of these credit unions. Can I claim from both?
Yes. Each credit union has its own settlement, so a member who paid qualifying fees at more than one files a separate claim in each.
When will the BC credit union settlement pay?
Claims close January 27, 2027. Claimants are to be told by March 1, 2027 whether their claim is approved and for how much, the appeal deadline is March 30, 2027, and payments are expected from April 27, 2027 if no appeal affects them. Payment is by Interac e-Transfer or, if chosen, by cheque.
