Overdraft Protection Services

What is Overdraft Protection?

Overdraft Protection is a service offered to 1DCU members to cover their overdrafts. An overdraft occurs when you do not have sufficient funds in your checking account to cover a debit card payment, check or ACH payment.

If you’re signed up for Overdraft Protection, we may cover the difference. Without Overdraft Protection, your payment will be declined.

What Types Of Overdraft Protection Are Available?

We offer three forms of overdraft protection to our members:

Transfer from a Savings Account

How It Works: When you do not have sufficient available funds in your checking account to cover a transaction, we’ll automatically transfer the necessary funds from the available balance in your savings account.
Cost: FREE
Limit: 6 per month (due to federal regulations)

Line of Credit

How It Works: Pending a credit approval, a line of credit will be linked to your checking account to cover transactions where you would have insufficient funds for a debit card, check or ACH payment (up to your protection limit).
Cost: Interest charges accrue based on the amount owed each month
Limit: Determined individually based on credit approval

Courtesy Pay

How It Works: Courtesy Pay is a purely discretionary service available to eligible members in good standing. With Courtesy Pay we may advance funds to cover transactions that exceed your available balance (up to your protection limit).
Cost: $35 non-refundable fee for each item paid
Limit: Determined individually based on your monthly deposits
Please note: the standard overdraft practice that comes with all checking accounts authorizes the credit union to authorize and pay overdrafts for the following types of transactions:
- Checks and other transactions made using your checking account number
- Automatic bill payments

Payment of these items will also result in a non-refundable $35 Courtesy Pay fee for each item paid.

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FAQs

What’s the difference between Available Balance and Actual Balance?

Which balance does 1DCU use when determining overdrafts?

How does 1DCU order/post daily transactions?

What happens if I attempt to use my debit card at the ATM or a retailer and I do not have sufficient funds and I do not have Overdraft Protection?

If I sign up for Courtesy Pay can I cancel it at any time?

This web page contains an overview of the Overdraft Protection Services available from 1DCU. For a complete explanation of Overdraft Protection Services and important information concerning your liability for overdrafts, please refer to the “Your Liability for Overdrafts” section of your Account Agreement and Disclosure.

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