Connecticut-Based Bank Decides To Eliminate Some Fees

CONNECTICUT — Middletown-based Liberty Bank Tuesday announced that, retroactive to Oct. 1, it has "eliminated" non-sufficient fund, uncollected funds and certain transfer fees assessed on consumer and business deposit customers.

It's an action "that will help enhance their customers’ financial wellness and empower them to manage their money better," officials said.

"We continuously identify and implement strategies to more effectively serve our personal and business banking customers and ensure they benefit from extraordinary banking experiences every time they bank with us," said David W. Glidden, the president and CEO of Liberty Bank. "In our ongoing commitment to help customers build and manage their financial success and succeed in the long term, we have made sweeping changes to eliminate NSF fees and uncollected funds fees assessed on consumer and business deposit customers."

Liberty Bank has implemented the following fee changes:

• Eliminated: $35 Insufficient Funds (or NSF) fee, which is the fee charged when an account is overdrawn and the bank does not pay the item
• Eliminated: $35 Uncollected Funds Fee (or the UCF)
• Eliminated: An $8 Overdraft Savings Transfer Fee
• Eliminated: A $5 Overdraft Line of Credit Transfer Fee

The fee assessed to overdraft items paid will remain in place, bank officials said.

Liberty Bank branches include:

• Storrs
• Willimantic
• Colchester
• East Hampton
• Glastonbury
• Wethersfield
• Newington
• Bloomfield
• West Hartford
• Avon
• Cromwell
• Middlefield
• Middletown
• New Britain