Enjoy Peace of Mind with Overdraft Protection
Enjoy peace of mind knowing your Consumers Credit Union checking account includes overdraft protection that can save you returned check fees, late fees, and the embarrassment of having your payment denied should you not have the funds available in your account.
Our standard overdraft practices include authorization of payment for checks, bill payments, and other transactions made using your checking account number. At your request, we will also extend overdraft protections to your ATM and Debit Card transactions.
Three forms of overdraft protection are available to you:
A Home Equity Line-of-Credit or HELOC is an open line of credit secured by your home that can be used and repaid on an ongoing basis.
Your HELOC can be tied to your checking account and used as overdraft protection. This option charges no fees per overdraft transaction beyond the interest accumulating on the subsequent HELOC balance. The variable interest rate and credit limit of the line will be determined based on credit worthiness, qualifications, and collateral conditions. All loans are subject to approval.
Your savings or money market accounts can also serve as an additional form of overdraft protection. Funds will automatically transfer from your savings account to your checking account should you not have the funds available to pay a debit card purchase, ATM withdrawal, check or electronic debit.
Each overdraft transfer will incur a $10 charge, saving you the expense of a Courtesy Pay fee and other potential 3rd party costs of having your payment denied, such as returned check fees and late fees.
Don’t have a HELOC or balance in your savings? We still have an option for you.
Courtesy Pay is available to cover inadvertent overdrafts on your checking account. Courtesy pay can pay transactions such as checks, electronic debits up to a total of $750, debit card purchases, and ATM withdrawals.
Each overdraft that we pay up to the $750 limit incurs a $30 fee. With Courtesy Pay, should a transaction cause an overdraft on your account, you avoid other potential costs associated with having your payment denied by the recipient, such as returned check fees and late fees.
Any fees incurred are included in the $750 Courtesy Pay limit. Should you overdraw your account beyond the $750 limit, you may incur additional fees for those transactions.
For more information on the overdraft protection options available to you or to confirm your overdraft protection preferences, click here or call 800.991.2221 to speak with a Member Service Representative.
Please see our current Fee Schedule for overdraft protection fees.
*Debit and ATM card overdraft protection require specific authorization.