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What You Need to Know about Overdrafts and Overdraft Fees

An overdraft occurs when you do not have enough money* in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

  1. We have standard overdraft practices that come with your account.
  2. We also offer overdraft protection plans, such as a link to a share/savings account or overdraft line-of-credit, which may be less expensive than our standard overdraft practices. To learn more, ask us about these services.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

       We do authorize and pay overdrafts for the following types of transactions:

  • Share drafts/checks, and other transactions made using your checking account
  • Automatic debit card payments (i.e. recurring subscriptions & items that charge on a regular basis)
  • ACH Transactions
  • FFCU Bill Pay Transactions

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

  • ATM transactions
  • One-time debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any time of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

*We determine whether you have enough money in your account for purposes of assessing overdraft fees based on your available balance.  Please see section 14 Overdrafts of our Membership Agreement and Disclosures for more information.

What fees will I be charged if the Credit Union pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of $28.00 each time we pay an overdraft.
  • There is no limit on the total fees we can charge you for overdrawing your account.

What if I want the Credit Union to authorize and pay overdrafts on my ATM and one-time debit card transactions?

Visit a branch or call us at 1-800-342-8298 to complete an Overdraft Services Consent form. 

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