We know you have a busy life, and that you might get a little ahead of yourself sometimes when it comes to making a purchase or paying a bill. Mistakes happen. That’s why we offer Overdraft Protection for all of our checking accounts.
Overdraft Protection helps you:
- Avoid damage to your credit.
- Avoid merchant fees for a returned check.
- Have peace of mind, knowing you’re covered if you make a mistake.
When you open a checking account with us, you can link it to your New Dimensions savings account to protect you against overdrafts. If you accidentally overdraw your checking account, the shortage is transferred from your savings account.
We know that sometimes you might not have sufficient funds in your savings account to cover an overdraft. When that happens, the credit union may provide Overdraft Privilege.
This service is available to members in good standing at the credit union and:
- Automatically covers checks and ACH transactions.
- Has a $500 limit.
- Must be repaid in 35 days.
- Incurs a fee.*
- Is provided at the discretion of the credit union.*
You can extend your Overdraft Privilege to cover ATM withdrawals and debit card transactions. If you would like to opt in for this additional coverage, please complete the opt-in form and return it to your branch or email us at firstname.lastname@example.org.
If you have questions or need help, please call us at (207) 872-2771.
*Accounts will be charged the standard fee of $25 for handling each overdraft created by check, ACH, Point-of-Sale, ATM withdrawal, in-person withdrawal, or other electronic item that is paid and $25 for items returned. 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 day period for a full business day (weekends and holidays excluded). We may also not pay items if you default on any loan or other obligation the credit union, or if your account is subject to any legal or administrative order or levy.
We also offer the option to link an Overdraft Line of Credit to your account. You can determine the order in which these overdraft options are used (share first, or loan first).
A line of credit is a type of loan that works similar to a credit card: you have to apply for it, and if approved you will have a specific amount of funding available to you to use, pay off, and reuse.
When you link an Overdraft Line of Credit to your checking account, funds to cover overdrafts will be disbursed in $100 increments and will incur finance charges. You will have required minimum payments.