4 Overdraft Protection Options

Bouncing a check can be a very costly mistake. Your financial institution charges you a NSF (non-sufficient funds) fee when you overdraw your account. The payee on the check will often charge you a return item fee as well. Just one bounced check could cost you over $75 in fees – not to mention the embarrassment it can cause!

USECU offers four economical options to protect you from overdrawing your account.

Savings Account Overdraft Transfers

When your checking account balance is short, we can automatically transfer money from the USECU savings account you select to cover the difference. USECU will transfer the exact amount needed to cover your item and charge a minimal transfer fee. Call us to enroll today!

Apply for an Overdraft Line of Credit to prevent overdrafts

When your checking balance is short, we’ll advance the necessary funds from your ODLOC to cover your transactions, up to your credit limit. There is no fee for this service.

Overdraft Privilege®

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway.  We can cover your overdrafts in two different ways:

  • We have standard overdraft practices that come with your account.
  • We also offer overdraft protection plans, such as a link to another account or a line of credit, which may be less costly than our standard overdraft practices.  To learn more, ask us about these plans.

This notice explains our standard overdraft practices.

  • What are the standard overdraft practices that come with my account?

    We do authorize and pay overdrafts for the following types of transactions:

    • Checks and other transactions made using your checking account number
    • Automatic bill payments

      We will not authorize and pay overdrafts for the following types of transactions without your consent.

  • What fees will I be charged if U.S. Employees Credit Union pays my overdraft?

    Under our standard overdraft practices:

    • We will charge you a fee of up to $31.00 each time we pay an overdraft
    • There is no limit per day on the total fees we can charge you for overdrawing your account
  • What if I want U.S. Employees Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions?
  • ATM transactions
  • Everyday debit card transactions

    We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

    If we do not authorize and pay an overdraft, your transaction will be declined.

  •  What Else You Should Know about Overdraft Privilege

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call (312) 922-5310 or email us securely via the Communication Center.  You can revoke your authorization for U.S. Employees Credit Union to pay these overdrafts at any time by any of the above methods.  Your revocation must include both your name and your member number so that we can properly identify your account.

Accounts will be charged the standard Overdraft fee of $31.00 for handling each overdraft created by check, ACH, Point-of-Sale, ATM withdrawal, in-person withdrawal, or other electronic item that is paid and $31.00 for items returned.  An overdrawn balance must be repaid within 30 days.  We may not pay items under your Overdraft Privilege if you do not maintain your account in good standing by bringing your account to a positive balance within every thirty (30) day period, if you default on any loan or other obligation to U.S. Employees Credit Union or if your account is subject to any legal or administrative order or levy.

Flex Lines of Credit

A Flex Line of Credit can also be used as a form of overdraft protection, It's always there when you need it. We’ll advance the necessary funds from your Flex Line of Credit to cover your transactions, up to your credit limit. There is no fee for this service. 
Apply today!
Overdrafts are costly, embarrassing and can damage your credit. Preventing them is simple, sign up for one or all of USECU’s overdraft protection options today.