We want to ensure our member-owners understand this fee change and the scenarios when a draw on a negative account could still result in additional fees.
What does over drafting my account mean?
When you overdraft your account, it means that your account is short on funds to cover a transaction; UCU will cover the funds for you up to a certain amount.
How do I qualify?
UCU will automatically waive the overdraft fee for checks or ACH transactions that bring your account negative. However, enrollment in our overdraft protection program is required to have debit card transactions covered. If you do not enroll, your debit card transaction will be declined, and no fee will be charged. To enroll, please call us at 800.UCU.4510 or visit one of our advisory centers.
What about insufficient funds fees?
If you exceed the overdraft privilege amount, your account will be charged a $30 insufficient funds fee.
How long do I have to pay back any overdrawn funds?
You will have 30 days to pay back the funds that you overdrew. However, if your account has a negative balance, you will be charged $10 every 10 days that your account is negative.