It happens to all of us.  You make an honest mistake in your checkbook.  You're a little short of cash 2-3 days before payday. Unusual or unforeseen circumstances pop up at just the wrong time.  That's why State Credit Union offers three options for overdraft protection on your checking account.

OVERDRAFT LINE OF CREDIT An overdraft line of credit is inexpensive protection when you need it.  There's no cost to you unless you use it and then you'll pay only pennies per day compared to the cost of NSF and merchant returned check charges. Plus, it gives you a personal credit line to use for whatever you need just by writing a check.  Apply securely right now - just put   "Overdraft Protection" as the purpose of the loan.

Your overdraft line transfers just the amount needed to avoid overdrawing your account.  For example, if your checking balance is $100, and a check of $150 is presented against your account, your overdraft line would advance $50 into your account in order to pay the item.  You avoid an NSF fee and then pay only the finance charges computed on your overdraft line of credit balance.

TRANSFERS FROM SAVINGS

You also can set up your savings account to transfer automatically to prevent your checking account from being overdrawn.  You can have up to six transfers per month to protect your checking account.  If you have a lot of checking transactions or your savings balance is not reliable, you may find six transfers is not enough to give you complete protection.  That's why we recommend that you take advantage of our overdraft line of credit.  You can choose to have your transfer from savings go into effect first and your overdraft line second, if you prefer.  There is no extra charge for transfers from your savings account.

COURTESY PAY

Even after the overdraft protection options above, you're still covered with Courtesy Pay.  Courtesy Pay may cover your insufficient funds checks, up to your approved limit, for one fee per covered overdraft transaction.  Although you pay the fee, it protects you from additional merchant returned check fees, as well as the embarrassment of an NSF check. 

Courtesy Pay goes into effect automatically after 60 days of having a checking account in good standing.  There's no application and no additional signatures are needed.  As long as you continue to make regular deposits to that account, bring your account back to a positive balance regularly and there are no legal orders against the account, your Courtesy Pay privileges will continue.  Click here for answers to some frequently asked questions about Courtesy Pay.

View or print SCU's Courtesy Pay brochure  (English & Español)