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Overdraft Protection from Savings will transfer funds from the Regular Savings only to cover any overdrafts. With Overdraft Protection from Savings, if funds are available when an overdraft occurs enough funds will be transferred to pay the overdraft and the fee incurred. Funds available include all collected funds over the par value of $25.00. A fee of $6.50 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. Overdraft Protection from Savings is optional and must be authorized in writing.
Remember if you have a Section 705 FCU checking account and choose not to have Overdraft Protection you risk having checks returned if you do not have enough funds to cover clearing items. To elect Overdraft Protection from Savings contact our Member Services Representative.
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