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“The Credit Union has something for everyone, from someone who is financially savvy to a person who just needs basic services.”


– Amy C.
Member Since 2010

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Overdraft Protection
Overdraft Protection

We have you covered

 

Whether its day-to-day transactions, or monthly expenses, our overdraft protection products give you a back-up plan if you don't have enough money available in your account. Plus, you can choose more than one option to help keep you covered. 

 

Overdraft Protection Choices 

 

Share Transfers

Best for you if:
You have a savings or money market account that regularly carries a balance. If you happen to spend more than what your checking account has available, this option will automatically transfer the amount you need from your savings or money market account.

Requirements:

  • SchoolsFirst FCU Savings or Money Market account1 

Features:

  • Up to six transfers per month
  • No fees

How to set up:

  • Log in to Online Banking
  • Select Overdraft Protection from Account Services
  • Select the share(s) you'd like to use to cover any overdrafts

 

 

Overdraft Protection Loan

Best for you if:
You use your checking account regularly to pay for items big and small and want extra assurances that the purchases you make with your debit card, or the checks your write, will be covered. An Overdraft Protection Loan acts as a line of credit, which will deposit the funds you need if your checking account does not have enough to cover the purchase. 

Requirements:

  • Application and credit qualification needed

Features:

  • No monthly service or transfer fee
  • Available line of credit from $100 to $5,000
  • Minimum monthly payment is 3% of the balance, or $25, whichever is greater 

How to set it up:

Log In

Get more details about the Overdraft Protection Loan

 

 

Debit Card Overdraft Protection

Best for you if:
You use your Debit MasterCard to pay for most of your purchases. It isn't a loan, and it won't take money out of another account to cover a purchase. However, it will automatically cover the expense--for a fee--if you don't have enough in your checking account. The fees associated with this option depend on the transaction and amount overdrawn. 

Requirements:

  • Must opt-in for this service
  • Must be at least 18 years old
  • Membership in good standing 

Features:2

  • Fees are only applied if your account is negative more than $10, and the transaction is also over $10
  • Fee cap of three fees per day at $22 per transaction

How to set it up:

You can also sign up for Debit Card Overdraft Protection at a local branch or by completing the consent form and mailing to:

SchoolsFirst FCU, Attn: Internal Service Center
P.O. Box 11544
Santa Ana, CA 92711-9807 

Debit Card Overdraft Protection FAQs

 

 

 

Disclosure

1Transfers are subject to Federal Regulation D, up to six transfers per month.

2Debit Card Overdraft protection fees: we will charge a $22 fee each time we pay an overdraft. A fee is charged when the transaction is over $10 and your account is negative more than $10. We limit overdraft fees to a maximum of three (3) overdraft fees per day. Negative shares must be paid immediately. Must be at least 18 years old to opt-in for this service. Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing.

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