What is Overdraft Privilege?
Overdraft Privilege is a non-contractual service provided to our eligible members. It is designed to help guard you against having items returned by the Credit Union. At the discretion of the Credit Union, each eligible member will be provided a specific dollar amount The overdraft limit amount includes fees, and there is NO per-day charge.
How does Overdraft Privilege work?
Should you overdraw your account covered by Overdraft Privilege for any reason, the Credit Union may elect to cover your overdrafts up to your limit. As long as you make regular deposits into your account, remain in good standing, and bring your account to a zero or positive balance you will continue to receive Overdraft Privilege.
How can Overdraft Privilege be accessed?
You can now access Overdraft Privilege for checking, Bill Payer, ACH transactions and at the teller window. And, you may also access Overdraft Privilege at the ATM and via POS/Debit Card transactions.
How can Overdraft Privilege NOT be accessed?
It is NOT available through the following channels: Telephone Banking (Private Line) and transfers through Internet Banking (Private PC).
What if I already have a transfer from savings and/or line of credit for Overdraft Protection?
If you have Overdraft Protection - e.g. from savings or a line-of-credit, you will still receive Overdraft Privilege which will be used only after any Overdraft Protection has been exhausted.
Can I select certain delivery channels I would like for Overdraft Privilege to be accessible with?
Will I be charged an Overdraft Privilege and an NSF fee?
You will only be charged an Overdraft Privilege fee ($35) for each paid item presented up to your limit including that fee. If the item is NOT able to be paid by Overdraft Privilege, you will then be charged an NSF fee ($35).
If I do not have NSF items, will I be charged any additional fees just for having this service?
No, you only incur charges when you use Overdraft Privilege.
Will I be notified know that Overdraft Privilege is being added to my account?
Yes. Each eligible member will receive a letter or email outlining this service.
How can I verify that I currently have Overdraft Privilege?
What if I don’t want Overdraft Privilege? You can opt-out of the privilege by contacting a Member Service Representative at any of our branches or through our call center at 904-723-6300. Please remember Overdraft Privilege does not cost anything if you don’t utilize it, and provides protection from NSF items and potential embarrassment of returned checks or ACH transactions.
When obtaining balances from Private Line, Private PC or an ATM will it show my available Overdraft Privilege limit?
No, the balance will be your actual balance excluding your Overdraft Privilege limit.
Is Overdraft Privilege reflected on my credit report or credit score?
No, it is not reflected on your credit unless your account remains negative more than 45 days.