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OverdraftOptions
Overdraft Coverage Options
At any time unforeseen events can leave you in a situation where you need unexpected funding. Whether you forgot to transfer money into your checking account, to make a deposit, or a billing error causing your account to be overcharged - we've got you covered.
Overdraft Protection
Overdraft Protection services apply to all transactions and may help prevent overdrafts by automatically transferring funds to your eligible checking account from another account or line of credit you may have at Air Academy Credit Union. Please note, overdraft lines of credit are subject to credit approval and transfers from an overdraft line of credit will incur a finance charge.
- Covered Transactions include checks, debit card purchases, ATM withdrawals, electronic funds transfers, and ACH debits.
- Use your money first with no fee.
- Designated overdraft accounts include savings accounts, money fund accounts, and/or a personal line of credit 1
Premium Overdraft Service
Premium Overdraft Service allows you to overdraw your account up to the disclosed limit for a fee in order to pay a transaction. Even if you have overdraft protection, Premium Overdraft Service is still available as an additional coverage option if other overdraft protection options are exhausted.
Service Features
- A Premium Overdraft Service fee of $32.00 is assessed each time an overdraft item is paid.
- There is no limit per day on the total fees you may be assessed for utilizing the Premium Overdraft Service.
- The amount of each transaction is deducted from the available Premium Overdraft service limit. The fee is not deducted from the available Premium Overdraft service limit.
- Premium Overdraft Service is not a line of credit; it is a discretionary overdraft service that can be withdrawn by the credit union at any time without prior notice.
| Transactions Covered with Premium Overdraft Service | Standard Coverage (no action required) | Extended Coverage |
|---|---|---|
| Checks | X | X |
| ACH-Automatic Debits | X | X |
| Recurring Debit Card Payments | X | X |
| Online Bill Pay Items | X | X |
| Teller Window Transactions | X | X |
| ATM Withdrawals* | X* | |
| Everyday Debit Card Transactions* | X* | |
| *Your consent is required on consumer accounts | ||
If you choose Extended Coverage on your personal account, ATM withdrawals and everyday debit card transactions will be included with the transactions listed under Standard Coverage. If you already have Extended Premium Overdraft Service coverage, it is not necessary to request it again.
You can discontinue the Premium Overdraft Service by contacting us at 719.593.8600 or 800.223.1983, sending an email to contactus@aacu.com, or stop by a local branch.
You can opt-in to Extended Coverage by contacting us at 719.593.8600 or 800.223.1983, sending an email to contactus@aacu.com, or stop by a local branch.