Overdraft Protection and Courtesy Pay Protection Plans Overdraft Line of Credit (ODLOC)

Overdraft Protection Plan

Courtesy Pay Protection Program

Overdraft Line of Credit (ODLOC)

Summary

Overdraft Protection can be set up to automatically transfer funds from your Savings Account to cover items presented for payment when your checking account has insufficient funds to cover the transaction.

Courtesy Pay is an additional protection on your checking account (after 90 days of Membership) when there are not enough funds in your Overdraft Account to cover a transaction

Overdraft Line of Credit (ODLOC) is available to qualified Members that charges interest on all fund advances.  This loan product will automatically transfer funds into your checking account to cover your overdrafts.

Eligible Accounts

ALL Premier Source FCU Checking Accounts

ALL Premier Source FCU Checking Accounts

ALL Premier Source FCU Checking Accounts

Limits to Participation

One Account per Household

Based on Your Individual Credit Score

Covered Items

(automatically covered)

• ATM Transactions
• Automatic Payments Deducted from Your Account (i.e. ACH or Bill Payments)
• Checks you write
• Debit Card Transactions

• Checks and other debits cashed at a Financial Institution
• ACH Debits and Withdrawals (i.e. ACH or Bill Payments)
• Automatic Payments Deducted from Your Account (i.e. ACH or Bill Payments)
• Checks you write
• Recurring Debit Card purchases (i.e. Netflix, Apple or Mobile Phone)
• Pre-authorized Internal Debits

• ATM Transactions
• Automatic Payments Deducted from Your Account (i.e. ACH or Bill Payments)
• Checks you write
• Debit Card Transactions
• Over-the-Counter Cash Advances

Covered Items

(Member MUST Opt-In to be covered)

NA

• ATM Transactions
• One Time Debit Card Transactions
• ATM Withdrawals and/or Point-of-Sale (POS) Transactions

Account Requirements

NA

• Account Holder is 18 years or older
• Account has been open for 90 days +
• Account is in good standing
• Courtesy Pay Protection Program Opt In/Opt Out ATM/Debit Form

• Account Holder is 18 years or older
• Account has been open for 90 days +
• Account is in good standing
• Subject to Creditworthiness

Days to Correct Any Balance Deficiency

(repayment of overdraft)

Within 30 calendar days of the Overdraft

*after that time, normal collection process begins

Within 30 calendar days of the Overdraft

*after that time, normal collection process begins

Fee

See “General Fees-Share Transfer Fee (Overdraft Transfer Fee)” on current Fee Schedule

See “Overdrafts/Returned Items-Courtesy Pay” on current Fee Schedule

Annual Fee:  $25.00