Save Yourself from Penalties

Overdraft Protection From Savings

WHAT IS OVERDRAFT PROTECTION FROM SAVINGS?

Overdraft Protection from Savings protects your share draft (checking) account from returned checks due to insufficient funds available by accessing the funds from your regular savings, Super Green, or second savings.

HOW DOES IT WORK?

If funds are available when an overdraft occurs, enough funds will be transferred from your savings to pay the overdraft and the fee incurred. Funds available include all collected funds over the par value of $25.00. A fee of $10.00 will be charged for each day a transfer is made, however if the overdraft option is never accessed, no fees will be paid. Funds transferred will be enough to bring the account balance to zero after the check is paid and the service charge is applied.

WHY SHOULD I HAVE OVERDRAFT PROTECTION FROM SAVINGS?

If you have a Section 705 FCU checking account and choose not to have some type of overdraft protection, there are many risks involved. Not only do you risk having checks returned if you do not have enough funds to cover clearing items, but you also risk the embarrassment of attempting to make a purchase and being denied. Plus, overdraft protection from savings is free if you never use it, so it costs you nothing to be cautious! 

HOW DO I SIGN UP FOR OVERDRAFT PROTECTION FROM SAVINGS?

Overdraft Protection from savings is optional and must be authorized in writing, so to apply, contact a Member Services Representative today. Don't wait until the need for the Overdraft Protection from savings comes up and you don't have it! Just remember-It doesn't cost anything to be cautious!!