Overdraft program

What happens if you attempt a transaction and find yourself without enough money in your checking account? Avoid the consequences of costly fees and embarrassing situations by understanding what happens when you overdraw your account and your options to avoid it.

Service overview

 Services

Enrollment

Fees

Overdraft Protection

Call 800-732-0173 or visit a branch.

Cover your checking with your savings, Visa or Personal Line of Credit as a transfer source.

  • $0-$4 per transfer

  • No fee to set-up

Courtesy Payment

  • Everyday debits

  • ATM

Requires you to opt in to set-up. Click here to opt in to Courtesy Payment.

  • If you opt in: We may choose to authorize and pay everyday debits and ATM transactions, even if you do not have available funds.

  • If you do not opt in: If there are insufficient funds the transaction would be declined.

  • $30 per paid insufficient fund item

  • $0 per insufficient fund item $5 or less

  • Max: 5 insufficient fund fees per day

Courtesy Payment

  • ACH

  • Checks

  • Online

  • Re-occurring debits

Requires no action to set-up.


We may choose to pay insufficient fund transactions.


If we do not pay your insufficient fund transaction depending on the type it may be represented up to 2 more times.

  • $30 per paid insufficient fund item

  • $0 per insufficient fund item $5 or less

  • Max: 5 insufficient fund fees per day

  • $30 per returned insufficient fund item each time it's presented

Manage your accounts

 

Sign up for online services that will help you manage your money.


Overdraft Protection

Enroll in Overdraft Protection, a way for you to link your Oregon State Credit Union checking account to a back-up source of funds. This allows you to designate a backup account to cover your overdrafts and avoid a $30 fee.

Here's how to how the service works:

  • Enroll at one of our branches or call our Member Service Center at 800-732-0173.

  • Select a back-up account as your overdraft protection source. It could be your Oregon State Credit Union savings account, second checking account, Visa® card, Money Market account or Personal Line of Credit.

    • When selecting your back-up account, be aware that transfers from your Basic Savings account or Money Market account are limited to six per month. After that, you are no longer covered by Overdraft Protection and will incur the $30 overdraft fee.

    • Transfers from lines of credit or credit cards are unlimited as long as there are funds in those accounts, but they begin to accrue interest the day of the transfer.

Overdrafts: How it works

The Credit Union uses your “available balance” to determine whether there are sufficient funds in the account to pay items presented for payment. Available balance is:

  • Actual balance minus the following:

    • amount of any holds placed on recent deposits

    • holds for other reasons

    • holds for pending transactions (such as pending debit card purchases) authorized but that have not posted to your account yet

The Credit Union processes checks and items as follows:

  • Checks are paid with the lowest items paid first

  • ACH items, credits are processed first and ACH debits are processed second, with the lowest items paid first

  • Debit card transactions are paid in the chronological order they are received

Our determination of an insufficient account balance may be made at any time between presentation and the midnight deadline with only one review of the account required.

Although we are not obligated to notify you when an overdraft occurs, we currently do mail notices.

You're required to pay the balance due on an overdraft, along with fees. Balances are due immediately and must be paid no later than 30 days after an insufficient transaction occurs.

Example: Check with multiple overdraft fees

You have $100 in your checking account and you write a check to a store for $500. If we do not choose to pay the item, the check would be returned unpaid resulting in a $30 insufficient fund fee. The store would likely try to resubmit the check a second time and that may result in a second $30 insufficient fund fee on the same check if your available balance is still short. Additionally, if the store converts the check to an ACH entry, the item may even be resubmitted for a third time. If there still continues to be insufficient funds, this could result in up to $90 in insufficient fund fees on the original $500 check, plus any fees that may be charged by the store.

Example: Overdraft caused by hold on account

You have $50 in your account and you deposit a $500 check, however a hold is placed on all but $200. An ACH for your insurance payment of $300 is presented and we choose to pay the item through Courtesy Payment even though you only have $250 available. You are charged a $30 insufficient fund fee.

Example: Saved by your savings

Your checking balance is $10. You have set up overdraft protection from your savings account and balance in your savings is $200. Your $50 bill payment is presented and $44 is transferred from your savings to clear the check (This includes the $4 fee for the transfer for Essential members. See Member Merits programs to move to Premier to avoid this and other fees).

Example: Dinner with your sister

You have $80 in your checking. You have opted-in for Courtesy Payment for everyday debit and ATM transactions. You go out to dinner and the bill for $150 is presented. You do not have sufficient funds in your account, however, we choose to authorize the transaction. Your account will go negative $70 and you will owe us this balance immediately plus a $30 insufficient fund fee.

Example: Overdraft caused by the car rental hold

You are on a trip and have $800 in your account. The car rental agency charges $300 for the car rental. In addition, they put a hold on your account of $500. Your reoccurring debit transaction for your gym membership of $40 is paid through Courtesy Payment even though there are no available funds. A $30 insufficient fund fee would be charged.

Set up your Overdraft Protection today

The best way to avoid overdrawing your checking account is to track your expenses and spend only what you have available in your account.

We want to help you avoid fees and have money available when you need it.


Compare our overdraft costs

Overdraft fees
Product typeEssentialEnhanced Premier
Overdraft paid
$5.00 or less
No fee No fee No fee
$5.01 or greater
$30.00 per item** $30.00 per item** $30.00 per item**
Overdraft returned
$5.00 or less
No fee No fee No fee
$5.01 or greater
$30.00 per item** $30.00 per item** $30.00 per item**
** Overdraft fees are limited to a daily maximum of 5 overdraft fees per day. Overdraft fees assessed can be overdraft paid fees, overdraft returned fees, or a combination of both. If we do not pay an overdraft item, there may be a fee as set forth within our fee schedule. We may charge a fee each time an item is submitted or resubmitted for payment. Therefore, you may be assessed more than one overdraft fee as a result of a returned item or resubmission(s) of the returned item.
Overdraft Protection
From savings, Visa®/PLOC, per transfer
$4.00 $3.00 $0.00

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