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Overdraft Protection

We know that mistakes happen, and we want to be sure you're covered!

We have several options that can save you from the cost and embarrassment of merchant-returned checks or denied card transactions.

Overdraft Options for Your Checking Account

Option How it Works Cost Repayment
Savings Account Transfer

Members are set up with this automatically.

Funds are automatically transferred from savings to checking to cover overdrafts. Per federal regulations, there is a limit of 6 withdrawals per month by phone, ACH automatic withdrawals and online transfers. 

$1 per transaction You'll need to replenish your savings account as you are able. 
Line of Credit

A line of credit is attached to your checking account.

Funds will be transferred in $100 increments from the line of credit to your checking account should you overdraw. 

Apply in online banking, by phone or in person.

Rates range from 10.99% to 18% based on your credit. You have the ability to repay immediately to limit the cost of interest charges. There is no annual fee and there is no cost unless you use the line.

If your line has a balance, a minimum payment of 2% of the balance or $20.00, whichever is greater, will automatically be deducted from your checking account on the 20th of each month. You can also transfer online from checking or savings to your line of credit at any time. 

Apply

Overdraft Privilege Pay
for checks bill payments, checks, ACH

In the event you have neither a line of credit nor available savings, we will authorize and pay overdrafts at our discretion for checks and other transactions made using your checking account number, automatic bill payments, ACH transactions, and other electronic funds transfers. Privilege pay is automatic; you must opt out if you do not want it.

$30 charge per occurrence over $15

Maximum daily accumulated charges is $150

You'll receive written notification when Privilege Pay is used. You have 35 days to return your account to a positive balance.
Overdraft Privilege Pay 
for debit card purchases + ATM transactions

You must register for this service.

In the event you have neither a line of credit nor available savings, we will authorize and pay overdrafts at our discretion for debit card purchases and ATM transactions. You must complete an ATM/Debit form.

$30 charge per occurrence over $15

Maximum daily accumulated charges is $150

You'll receive written notification when Privilege Pay is used. You have 35 days to return your account to a positive balance.

Consent Form

We will always attempt to pay an overdraft from savings or your established line of credit before paying your overdraft utilizing Overdraft Privilege Pay. Restrictions may apply. Not all overdrafts are guaranteed.

Frequently Asked Questions

How do I qualify?
You must be at least 21, have an OUCU checking account and no delinquent or overdrawn loans.

If I do not opt-In to Privilege Pay for my debit card, how will my transaction be processed?
If the funds are not available in your checking or savings account, the transaction will be denied at the merchant unless you have funds available on your line of credit.

Below is the opt-In form. You'll need to complete, print, sign, scan and email back via secure mail, US mail or at any branch:

Overdraft Consent Form for ATM & One-Time Debit Card Transactions

Can I still opt-In to Privilege Pay if I have an overdraft line of credit?
Yes, Privilege Pay would only be utilized if you didn’t have funds available on your line of credit.

Contact

For more information, contact us at (740) 597-2800 or memberservices@oucu.org.