OVERDRAFT COVERAGE OPTIONS: OVERDRAFT PROTECTION AND OVERDRAFT PRIVILEGE
UFCW Community Federal Credit Union understands that unexpected overdrafts occur from time to time – Overdraft Coverage can help
Overdraft Coverage Options
The choice is yours. Consider these ways to cover overdrafts:
| Service | Cost |
|---|---|
| Overdraft Protection link to your primary share account you have at UFCW Community Federal Credit Union1 | No fee per transfer |
| Overdraft Privilege* Standard or Extended Coverage | $35 Overdraft Privilege/Courtesy Pay Fee per item presented** |
1 Call us at (570) 693-0500, send us a secure message through online banking, or come by a branch to sign up for this service.
*To be eligible you must establish a minimum direct deposit of $100 every 35 days and total deposits of at least $300 during the first 60 days following account opening
**Per item presented means each time an item is presented, including re-presentment
Overdraft Protection applies to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from your primary share account at UFCW Community Federal Credit Union.
Overdraft Privilege allows you to overdraw your account up to the disclosed limit for a fee to pay a transaction. Even if you have Overdraft Protection, Overdraft Privilege is still available as secondary coverage if the other protection source is exhausted. Please review What Else You Should Know for other important information.
Transactions Covered with Overdraft Privilege
| Transaction Type | Coverage Type | If you would like to select Extended Coverage for future transactions: | |
|---|---|---|---|
| Standard Coverage (No action required) | Extended Coverage (Your consent required on consumer accounts)* | ||
| Checks | X | X |
|
| ACH - Automatic Debits | X | X | |
| Online Bill Pay Items | X | X | |
| Recurring Debit Card Transactions | X | X | |
| Teller Window Transactions | X | X | |
| ATM Transactions | — | X* | |
| Everyday Debit Card Transactions | — | X* | |
* If you choose Extended Coverage on your consumer account, ATM transactions, recurring debit card, and everyday debit card transactions will be included with the transactions listed under Standard Coverage. If you already have Overdraft Privilege Extended Coverage, it is not necessary to request it again. Business accounts automatically have Extended Coverage.
If you want to discontinue Overdraft Privilege in its entirety, contact us at (570) 693-0500 or send us a secure message through online banking.