Overdraft Protection Options
An overdraft may occur when you have a transaction presented to clear your account when you do not have enough funds available, rather than returning the transaction, we may pay it. A fee may be imposed for covering overdrafts created by check, in-person withdrawal, ATM withdrawal, or other electronic means.
NOTE: If enough funds are available in a linked share account, a transfer may be initiated automatically to clear the item (The base-share account is the default account. To have a different share account linked to your checking, please contact the credit union directly.)
The Credit Union offers two additional overdraft protection programs that may fit your needs:
Courtesy Pay Overdraft Protection:
Courtesy Pay is when your account is allowed to go into a negative balance to clear a transaction that is presented. All transactions that clear your checking account and cause a negative balance will be assessed a $25.00 overdraft fee, the same fee as if we were to return the transaction.
The Courtesy Pay Overdraft Practice will authorize any ATM or one-time (everyday) debit card transactions (up to a specific dollar amount) if there are not sufficient funds available in your checking account at the time the authorization is requested. Direct Deposit is required to qualify for Courtesy Pay. Contact the credit union directly to learn more and sign up for Courtesy Pay Overdraft Protection.
Protect your checking account against overdrafts with an approved Line-of-Credit. This line-of-credit will automatically transfer funds (up to the approved limit) to your checking account to clear items. The amount transferred will be the amount necessary to clear the item. The outstanding unpaid daily balance held on the line-of-credit will be assessed a finance charge of 17% APR, which is .046575% per day. Contact the credit union directly to learn more or apply online for the Overdraft Line-of-Credit. If there is an outstanding balance on the Overdraft Line-of-Credit at the end of the month, a payment of at least $25.00 will be due to the borrower.
Whether your overdrafts will be paid is discretionary and we reserve the right to not pay. For example, we typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts.
Should your account fall into a negative balance, you will have 17 days to clear up that balance until a Negative Account Fee may be imposed.
View the Credit Union’s Fee Schedule for more information.