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Progressions Credit Union
 

 

Overdraft Protection

Start Here

Overdraft Protection

Start Here
Keep your financial options opened
by exploring the
options we have with Overdraft Protection.

Overdraft Protection 

An overdraft occurs when you do not have enough money available in your account to cover a transaction, but we pay it anyway. Your available balance determines if you have enough money in your account to cover a transaction.

Help to Avoid Over Drafting
  1. Watch your balance closely. Enroll in online/mobile banking so you can check your balance 24/7. Learn more
  2. Set up Text Alerts so you can be notified when your balance drops below a certain amount, or simply have your balance sent to you regularly, and more  Learn more
  3. Learn to Budget 
  4. Set up an appointment with a Financial Counselor through our partner, Balance. Learn more
  5. Check out articles through Balance and Banzai. 
  6. Contact one of our Financial Solutions Representatives for help.

 We have three options to cover your overdrafts:

Savings Transfer Overdraft Protection

This allows automatic transfers from your Saving(s) account for a fee of $2.00 per transfer, which may be less expensive than our standard overdraft practices. Overdraft protection can be set up at any time. Please contact us to verify your current overdraft protection setup or if you want to ensure you have it set up.

Personal Line of Credit

Can also be a convenient way to cover those unexpected expenses that can result in an overdrawn account. You can set up your Personal Line of Credit to automatically transfer enough to cover your overdraft for a small fee of $2.00 per transfer. The minimum transfer amount is $50.00. Apply now or contact us for more information.  Check out rates here.

Overdraft Privilege

This discretionary service provides coverage for overdrafts for qualified members up to a specified limit. There is a $30.00 fee each time we pay an overdraft. The standard protection allows us to authorize and pay overdrafts for the following types of transactions:

  • Checks and other transactions made using a checking account number

Automatic bill payments/ACH

What about debit cards?   

You can opt-in to include coverage of ATM and everyday debit card transactions (recurring payments are not included).

The credit union pays overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined. 

Overdraft Protection 

An overdraft occurs when you do not have enough money available in your account to cover a transaction, but we pay it anyway. Your available balance determines if you have enough money in your account to cover a transaction. 

Full Disclosures

Keep your financial options opened by exploring the

options we have with Overdraft Protection.

Help to Avoid Over Drafting

  1. Watch your balance closely. Enroll in online/mobile banking so you can check your balance 24/7. Learn more
  2. Set up Text Alerts so you can be notified when your balance drops below a certain amount, or simply have your balance sent to you regularly, and more  Learn more
  3. Learn to Budget 
  4. Set up an appointment with a Financial Counselor through our partner, Balance. Learn more
  5. Check out articles through Balance and Banzai. 
  6. Contact one of our Financial Solutions Representatives for help.

 We have three options to cover your overdrafts:

Savings Transfer Overdraft Protection

This allows automatic transfers from your Saving(s) account for a fee of $2.00 per transfer, which may be less expensive than our standard overdraft practices. Overdraft protection can be set up at any time. Please contact us to verify your current overdraft protection setup or if you want to ensure you have it set up.

Personal Line of Credit

Can also be a convenient way to cover those unexpected expenses that can result in an overdrawn account. You can set up your Personal Line of Credit to automatically transfer enough to cover your overdraft for a small fee of $2.00 per transfer. The minimum transfer amount is $50.00. Apply now or contact us for more information.  Check out rates here.

Overdraft Privilege

This discretionary service provides coverage for overdrafts for qualified members up to a specified limit. There is a $30.00 fee each time we pay an overdraft. The standard protection allows us to authorize and pay overdrafts for the following types of transactions:

  • Checks and other transactions made using a checking account number

Automatic bill payments/ACH

What about debit cards?   

You can opt-in to include coverage of ATM and everyday debit card transactions (recurring payments are not included).

The credit union pays overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.