Overdraft Management

The best way to protect yourself from overdrawing your checking account is good account management.

What if you still make a mistake? It can happen to the best of us. One Credit Union has options to save you from the embarrassment, inconvenience, and sometimes hefty fees from a declined transaction.

There are 3 ways to manage overdrafts:

  • Good account management - free
  • Link to a Savings Account - $2 per transfer
  • Overdraft Privilege - $28 per overdraft
Link to Savings Account
If an item is presented and insufficient funds are available, we can look to a linked account to cover the item.  If funds are available, we will automatically transfer the shortfall amount from the savings account to your checking account to pay the item as presented.  The fee is $2 per transfer. Be aware that federal regulations limit "non in person transfers" to a maximum of six per month.

Overdraft Privilege
Overdraft Privilege is a discretionary service where One CU will cover your overdrafts (and fees) up to your Overdraft Privilege limit.  Whether it is a check, ACH, Recurring Debit Card Payment (e.g. your gym membership) or an Online Bill Pay item, we will get it paid.  You can also cover your everyday Debit Card and ATM overdrafts, but you must "opt-in" for this extended coverage:
  • Complete this Opt In Form and mail/bring to your branch
  • Call us (800) 578-5024
  • Login to Online banking, click on the Overdraft Privilege tab and check the box at the bottom of the page and submit.  To login or register for online banking, please use the box in the top right hand corner of the page.
Even if you choose to have overdraft coverage by linking to a savings account, you may want to consider Overdraft Privilege if there is a chance the balance in the linked account will be insufficient.  There is no charge to have the secondary coverage if it is not used.

Overdrawn balances must be repaid within 35 days or your Overdraft Privilege limit may be lowered or removed altogether.  One Credit Union offers Overdraft Privilege at its discretion and does not have an obligation to pay your overdrafts.  We may withdraw or reduce the amount of this privilege at any time if you do not keep your account in good standing by bringing your account to a positive balance within the 35 day period (and keep it positive for at least one business day).  We may also withdraw this service if you default on any loan or other obligation to One CU, or if your account becomes subject to any legal or administrative order or levy.

For complete details, please speak to a Member Service Representative at (800) 578-5024.

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