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Overdraft Privilege

We all slip from time to time and can make little mistakes! That's why One CU offers Overdraft Privilege to cover you when the unexpected happens.

Overdraft Privilege is a discretionary service designed to help prevent your insufficient funds items from being returned or declined. With Overdraft Privilege, we have the option to cover your overdrafts up to your Overdraft Privilege limit (including fees) if you inadvertently overdraw your account. This can save you the embarrassment and inconvenience of a returned or declined item and the added fees normally charged by merchants for items returned to them.

What types of transactions are covered by Overdraft Privilege?
Checks, ACH (Auto Debits) Recurring Debit Card Payments, Online Bill Pay Items.

What if I want One Credit Union to pay my everyday Debit Cardlife preserver and ATM overdrafts?
If you want us to authorize and pay overdrafts caused by ATM and everyday debit card transactions, you must tell us by using one of the following methods:
  • complete the Opt-in Form (also is available at any branch or was mailed to your listed address) and mail it to us at 380 River St, Springfield, VT 05156
  • bring it by one of our convenient branch locations;
  • call us at 800-578-5024 or
  • You can log in to your Navigator online banking, click the Overdraft Privilege tab and check the box at the bottom of the page for your account and click submit.
Overdraft Privilege Options:
Standard: checks, ACH, Online Bill Pay, and recurring debit card transaction overdrafts are covered.
Full: ATM and everyday debit card overdrafts are covered in addition to those listed above.
None: No overdrafts covered. NSF (non sufficient funds) items are returned to the payee or declined.

With Overdraft Privilege vs. Without Overdraft Privilege
With Overdraft Privilege  Without Overdraft Privilege 
Written Check Amount: $50 Written Check Amount: $50
Overdraft Fee: $25 NSF/Return Fee: 
You Pay:  
$75 Merchant Fee (up to): $40
    2nd NSF/Return Fee*: $25
    You Pay: $140


*If merchant re-deposits check and funds are still unavailable.

Ways to Cover Overdrafts 
Ways to Cover Your Overdrafts Cost for each Overdraft
Good Account Management $0
Overdraft Privilege $25 per overdraft
Link to Savings $2/transfer

Even if you elect to have to have additional forms of overdraft coverage, such as transfer from savings account, Overdraft Privilege is still available as secondary coverage if other sources are exhausted.

  • Our standard Overdraft fee of $25 will be imposed for overdrafts created by checks, ACH, ATM withdrawals, everyday debit card transactions, in-person withdrawals, or by other electronic means.  This is the same fee that we charge for items drawn against insufficient funds and returned to the payee.
  • If multiple items are presented against your account on the same day, each item will be assessed an appropriate $25 Overdraft fee or a Returned Item fee of $25. 
  • One Credit Union has the discretion, but is not agreeing and does not have an obligation to pay your overdrafts and we may withdraw or reduce the amount of this privilege at any time.  An overdrawn balance must be repaid within 35 days or your Overdraft Privilege limit may be removed. 
  • One Credit Union ordinarily will not pay an item above the Overdraft Privilege limit and may return items if you do not maintain your account in good standing by bringing your account to a positive balance within every thirty-five (35) day period for a minimum of one business day, if you default on any loan or other obligation to One Credit Union or if your account is subject to any legal or administrative order or levy.
  • Fees charged for covering overdrafts, as well as the amount of the overdraft item, will be subtracted from this Overdraft Privilege amount as items are paid.  It may be possible that your account will become overdrawn in excess of the Overdraft Privilege amount as a result of the assessment of a fee.  Balances at an ATM or other point of inquiry will not include the Overdraft Privilege limit; however, items may be paid in excess of the balance provided. 
  • Transactions may not be processed in the order in which they occurred and the order in which transactions are received and processed may impact the total amount of fees assessed.
For complete details, download the brochure.

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