We offer several options that can help when balances get low.
It is best to avoid transactions that will overdraw the available funds in your account. However, we realize that it may happen from time to time. We offer overdraft services and privileges that may help you avoid declined transactions or returned items.
Overdraft Privilege is a discretionary service available for Freedom and Interest Checking Accounts. When an account qualifies, you will be provided overdraft privileges for all debits (not ATM or everyday debit cards) unless you opt-out.* These debits include checks, ACH transactions, recurring debit card transactions, bill pay transactions, and wire transfers. There is a $30.00, per overdraft, fee for this service. This amount will be charged per overdraft for all other debit transactions if you do not have available funds in your account. The funds will be covered by the credit union and you will have to repay the transaction amount, plus the fee.
Optional Overdraft Services
In addition to Overdraft Privilege we offer several other optional overdraft services.
- Overdraft Transfer from Savings Account
If you choose this option, funds will be transferred (if available) from a linked savings account. You will need to sign up for this service. It is important to note that transfers will count towards the maximum number of six withdrawals and transfers per month from your savings account. Additionally, there is a $4.00 fee when the overdraft transfer occurs from a savings account.
- Overdraft Transfer from Line of Credit
If you choose this option, funds will be transferred (if available) from a linked line of credit account. You will need to sign up for this service. When using overdraft transfer from a line of credit, it is treated just like any other draw on the line of credit.
- Overdraft for ATM and Everyday Debit Card Transactions
If you would like to have your ATM and everyday debit card transactions protected with overdraft services, you will need to let us know by choosing to opt-in. If you do choose to opt-in, your account will be charged a fee per overdraft, if you do not have available funds in your account. The funds will be covered by the credit union, then you will need to pay the transaction amount plus the fee. There is a $30.00 fee for this service if you choose to opt-in.
If you do not opt-in, the transactions will be denied/declined. No overdraft fee will be assessed on ATM and everyday debit card transactions unless you have specifically opted-in. You will pay no overdraft fees.
Sign up information:
To have debit card transactions covered, complete the opt-in form securely online using DocuSign. You may also go by any branch to complete the form.Enter your name and email address to access the form. Select the appropriate option. Then enter your checking account number and electronically sign the form.
You may choose at any time not to participate in Overdraft Privilege. If you choose to Opt-out of the Overdraft Privilege Program, you may be charged an Insufficient Funds (“NSF”) Fee for any returned items, checks, or debits.
Compare Overdraft Services
|Overdraft Transfer from Savings Account||Overdraft Transfer from Line of Credit||Overdraft for ATM and Debit Card Transactions||Overdraft Privilege|
|What transactions are covered?||ATM and debit card transactions, checks, Bill Pay items, and other electronic payments.||ATM and debit card transactions, checks, Bill Pay items, and other electronic payments.||ATM and everyday one-time debit card transactions only.||ATM and recurring debit card transactions, checks, Bill Pay items, and other electronic payments.|
|How does it work?||If you do not have enough money in your checking account to cover a transaction, we will use the available funds in your linked savings account to approve the transaction.||If you do not have enough money in your checking account to cover a transaction, we will use the available funds in your linked line of credit account to approve the transaction.||We may approve the transactions at our discretion.||If you do not have enough money in your checking account to cover a transaction, we will use your available Overdraft Privilege limit to approve the transaction.|
|What is the cost?||There is a $4.00 fee per transfer when the overdraft transfer occurs.||Subject to Line of Credit (LOC) fees plus interest.||There is a $30.00 fee per overdraft for this service if you choose to opt-in.||There is a $30.00 fee per overdraft for this service.|