Overdraft Protection

When you open a checking account with Oregon State Credit Union, you have options for managing overdrafts.

Overdraft Protection plan

Protect your checking account with an Overdraft Protection plan. With Overdraft Protection, you link your checking account to a back-up account, such as your savings account, Visa® Value or Rewards credit card or Personal Line of Credit. If you make a payment from your checking account and do not have sufficient funds to cover it, we will transfer the funds from the account you designated.1

This service covers payments made by paper check and automatic transfer payments to this credit union or another financial institution, as well as debit card and ATM transactions. There is no fee to add Overdraft Protection, and no fee unless you use the service. Depending on your Member Merits category,2 there may be a small transfer fee every time this happens, up to $4.

Courtesy Payment

When you open your checking account, you are automatically covered by our standard Courtesy Payment practices. With Courtesy Payment, we may, at our discretion, authorize and pay overdrafts that occur when you write a check or pay a bill using online bill pay or ACH (Automated Clearing House) transfers.3 We then notify you of the overdraft and require you to pay any balance due plus a standard $30 overdraft paid fee.4

Courtesy Payment does not automatically cover ATM transactions or one-time debit card transactions. If funds are not available within your account or designated overdraft protection source your transaction would not be authorized and no fee is assessed. However, you can add Courtesy Payment by opting in to have one-time debit card and ATM transactions eligible for Courtesy Payment.5

There is no fee to opt-in to the additional Courtesy Payment coverage, and no fee unless you use the service. The fee per transaction is $30 and the number of fees is limited to a daily maximum of five overdraft fees per day.

It's easy to opt in or out of Courtesy Payment coverage for ATM or one-time debit card transactions.

Click here to opt in/opt out

1 For savings and money market accounts, up to six (6) ACH, pre-authorized, telephone transfers and online account access transfers may be made from these accounts to another account of yours or to a third party in any amount, during any calendar month. If you exceed these limitations the transfer may be refused or returned.

2 Service fees may be reduced or waived for members in the Enhanced and Premier categories of Member Merits. Premier, Enhanced and Essential are categories of the Member Merits program, a program that rewards members based on the member’s relationship with the credit union.

3 Overdrafts are paid at the discretion of Oregon State Credit Union. This means we do not guarantee to authorize and pay any type of transaction when there is not enough money available in your checking or designated overdraft protection accounts. If Oregon State Credit Union does not authorize and pay an overdraft, your transaction will be declined.

4 Negative balances are due immediately and on demand, and must be paid no later than 30 days after the NSF (non-sufficient funds) transaction.

5 Recurring debit card transactions that take your account negative are still subject to a $30.00 fee (for each occurrence) regardless of opt-in status.

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