Overdraft Protection

Overdraft Privilege*

With Overdraft Privilege should you have checks, ACH transactions, or automatic bill payments presented for payment that would overdraw your account if paid, rather than automatically returning the item, we will consider it for payment. You may also opt in to have debit card transactions authorized as well.

What you need to know:

  • Overdraft Privilege is a discretionary service available for Freedom and Interest Checking Accounts
  • A $30 fee will be assessed for each overdraft
  • Total overdrafts cannot exceed allowable account limit
  • To have debit card transactions covered, complete the opt in form securely online using DocuSign. You will be required to enter your name and email address to access the form. Once the form appears, you select the appropriate option, enter your checking account number and electronically sign the form. You may also go by any branch to complete the form.
*Overdraft Privilege may pay checks, point-of-sale Visa debit card transactions, ACH and any other transactions presented against your checking account when it is overdrawn. You must be at least 18 years of age and a member for a minimum of 90 days for this service to be extended. The fee is $30 per overdraft. Overdraft Privilege must be repaid promptly. You are limited to one checking account of which you are the primary owner. AllSouth Federal Credit Union pays overdrafts at our discretion and reserves the right not to pay. Additional Overdraft Protection options include Line of Credit and Automatic Savings Transfers.

Line of Credit

A line of credit is the perfect option for handling any unexpected expense or overdraft.

What you need to know:

  • No per-item overdraft fees
  • Requires credit approval. You can apply using the Consumer Loan Application.
  • Low interest rates
  • Can withdraw funds up to your established limit*
  • Credit limits up to $15,000*
  • Funds are advanced in $100 increments
  • Low monthly payment (2% of the balance with a $25 minimum payment)
  • Available for qualifying Freedom, Interest, and Basic Checking Account holders

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*Loan rates and terms based on credit worthiness.

Overdraft Savings Transfer

With your prior authorization, funds available in your savings accounts may be transferred to any checking account or your Money Market account to cover overdrafts.

What you need to know:

  • Establish authorization when you open your checking account, or at any time by visiting a branch or get in touch with our Contact Center
  • Automatically moves money from savings to checking to pay for overdrafts as long as funds are available
  • A fee of $2 will be assessed for each transfer
  • Transfers only the actual amount needed, if available