Your checking account is protected from overdraft two ways:
1. Savings Overdraft Protection
2. Courtesy Payment
Savings Overdraft Protection
Your credit union will automatically transfer the amount that is needed from your savings account to cover any negative balance in your checking account. This service is free.
When you don’t have enough money in your savings account to cover a checking overdraft, Courtesy Payment will protect you. Courtesy Payment has a limit of $500 and there is a $27 fee for each time the Courtesy Payment service is accessed. You have 30 days to repay the amount covered by a Courtesy Payment. There is no charge for this service unless you use it.
Courtesy Payment provides you with several benefits:
- Your information is safe. Online bill pay uses SSL encryption, personalized user names, and passwords to protect your privacy.
- Protects you from the embarrassment of a returned check from a merchant.
- Avoids additional fees for returned checks and late fees from merchants.
- Protects you from insufficient funds in your checking account when using your debit card.
- Protects against insufficient funds in your checking account when making ACH payments.
Note: Members are eligible to enroll in Courtesy Payment 90 days after opening a checking account. You must opt in for your Courtesy Payment service. You may opt-out at anytime.