Overdraft Protection
Overdraft Protection and Overdraft Privilege
Life happens!
Community Powered FCU understands that unexpected overdrafts occur from time to time.
Overdraft Coverage can help.
Overdraft Coverage Options
The choice is yours. Consider these ways to cover overdrafts.
| Service | Cost |
| Overdraft Protection Link to Another Deposit Account you have at Community Powered FCU1 | $10 Transfer fee to cover ACH and checks $15 Transfer fee to cover POS items |
| Overdraft Protection Line of Credit 1, 2 | Subject to fees + interest |
| Overdraft Privilege Standard or Extended | $25 Overdraft Privilege Fee per item presented*. |
1Call us at (302) 368-2396 or come by a branch to sign up or apply for these services.
2Subject to credit approval.
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction (which generally will occur because you have not authorized a transaction, exceeded the overdraft limit, or have an outstanding balance that has not been repaid)
*Per item presented means each item presented. Overdraft Protection services apply to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from your primary share account or line of credit you may have at Community Powered FCU for a fee. Please note that overdraft lines of credit are subject to credit approval. Overdraft Privilege 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, Overdraft Privilege is still available as secondary coverage if the other protection source is exhausted. Overdraft Privilege (Courtesy Pay) Payment Services. If you have a checking account and are in good standing, you may use the privilege of our overdraft service, which allows you to overdraft an account up to a set limit. To be in good standing requires that you have a checking account for at least thirty (30) calendar days, be eighteen (18) years of age or older, and to have not caused us a loss. If you qualify, we may pay your overdrafts up to a set limit and require a service charge. This service will not apply to ATM transactions or to non-recurring debit card transactions unless you notify us that you would like to opt into coverage of such transactions as we may require. If you use this service, we will notify you of the amount paid and the service charge for each transaction, and you will have thirty (30) calendar days to reimburse us for paid checks, EFTs and service charges. For more information about this service, please contact us at 302-368-2396 or toll-free at 877-368-2396.
Please review What Else You Should Know for other important information
| Transactions Covered with Overdraft Privilege | Standard Coverage (No action required) | Extended Coverage (Your consent required)* |
| Checks | X | X |
| ACH – Automatic Debits | X | X |
| Recurring Debit Card Payments | X | X |
| Online Bill Pay items | X | X |
| Internet Banking Transfers | X | X |
| Telephone Banking | X | X |
| Teller Window Transactions | X | X |
| ATM Withdrawals | X | |
| Everyday Debit Card Transactions | X |
*Per item presented means each item presented.
Allow yourself to end the downward spiral once and for all so you can put your money towards the things you love to do.
If you would like to select Extended Coverage for future transactions:
- Call us at (302) 368-2396,
- Download, print, and complete the online consent form
- Visit any branch, or
- Complete a consent form and mail it to us at 1758 Pulaski Hwy., Bear, DE 19701
*If you choose Extended Coverage on your checking account, ATM transactions and everyday debit card transactions will be included with the transactions listed under Standard Coverage. If you already have Extended Overdraft Privilege coverage, it is not necessary to request it again. You can discontinue the Overdraft Privilege in its entirety by contacting us at (302) 368-2396
