*Money Market, IRA, and Escrow savings may not be used for overdraft protection.
Ever worry that you don't have sufficient available funds to cover a check you wrote? No matter how often you check your account, you may occasionally miscalculate or simply run short. When your debit card is declined or a check is returned unpaid to a retailer, loved one, friend or business associate, it can be embarrassing. And, you may end up paying high penalties to the retailer for returned checks and other returned items.
Overdraft Privilege offers Peace of Mind:
Upon your request and if your account qualifies, Overdraft Privilege (ODP) can be established to pay checks, automated bill payments and other transactions^ that exceed your Available Balance, up to your ODP limit of up to $600.
^Overdraft Privilege will not authorize and pay overdrafts for automated teller machine (ATM) or everyday debit card transactions unless you specifically elect or “opt in” for this coverage.
When a check, electronic withdrawal, ATM transaction* or everyday debit card transaction* is processed that exceeds the Available Balance in your account, the item may be honored up to your ODP limit. This means that the merchant who received your check or debit transaction will be paid, or the amount of cash you requested from the ATM will be given to you. Your account will be overdrawn to cover the transaction and will be assessed the $30 ODP fee. You must bring your account balance positive within 45 days from the date of the first overdraft occurrence.
*The Credit Union will not authorize or pay ATM transactions and everyday debit card transactions unless you opt in to have those transactions covered.
Overdraft Privilege will only be used after you have exhausted the available funds in your other overdraft protection option(s).
|The choice is yours. Consider these ways to cover your overdrafts:
Returned item due to overdraft: $30 IUCU fee + $30 merchant fee*
|Ways to cover your overdrafts
Transfer from regular savings
Transfer from line of credit
Overdraft Privilege (ODP)
|Cost for each Transfer/Transaction
$3.00 fee per transfer
$0 fee + variable APR**
$30 per item paid
|*The amount of the merchant fee, if applicable, may vary.
**Annual Percentage Rate.