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Overdraft Protection Options

We understand that the unexpected can happen or that math mistakes can occur, and you may not have enough money in your checking account to cover a transaction. Unfortunately, these mistakes can really sting –- triggering not only insufficient funds fees from Cooperative Federal, but also returned payment charges or collections fees from the merchant that didn’t get paid. By setting up overdraft protection, you can avoid both of these fees!  

Overdraft Transfer

If you make a payment for more than you have in your checking account, but you have money in your savings account, we will automatically transfer funds to cover the overdraft. This is an optional service for a small fee per transaction, and is the lowest cost overdraft protection option.

Overdraft Line of Credit

You can also apply for a line of credit to protect against checking account overdrafts. Download a personal loan application, or, if you’re a Cooperative Federal member, you can apply through Web Teller (under Loan Applications). 

Overdraft Courtesy Pay

For an extra level of protection, Cooperative Federal offers Overdraft Courtesy Pay. To minimize fees, we recommend using overdraft transfers or lines of credit as your primary line of protection, with Courtesy Pay as a back-up. Overdraft Courtesy Pay is a benefit that is available for qualified members who OPT-IN to the program. To qualify, you must have had your account open for at least 30 days and receive regular deposits into the account of at least $300 each month.

Get Set Up

To set up or change your overdraft protection options, use our Overdraft Options Disclosure. Print, sign, and return the form to the credit union to change your overdraft choices at any time.