Overdraft Protection

We’re here to lower the cost of everyday “oops” moments with Overdraft Protection for your HCU Spending account. You won’t have to worry about being declined when making a purchase or turning that $4 latte into a $30 cup of coffee full of fees. Overdraft Protection can deliver help to you when you need it most.

We're over high overdraft fees. We've lowered overdraft fees from $28 to $9 and the overdraft line of credit transfer fee from $4 to $2. It's your financial safety net.

Get low balance, returned check, and transaction text or email alerts. It's everything you need to be in control of your money. Log in to HCU Digital Banking to set up alerts.

Overdraft Protection is included with every HCU Spending account.  Overdraft Lines of Credit, Share Transfers, even Courtesy Pay to help you when you need it the most. 

Overdraft Protection Options

Overdraft Line of Credit Loan

  • Initial line determined by credit tier; larger lines available through request.
  • Advances are made as needed (up to your limit) in $200 increments.
  • Costs include daily interest on the loan,  (16.9% APR as of 7-2010) and a $2 transfer fee per item, per advance.
  • Low monthly payments of $10 per $150.00 balance.
  • Payments are due each month on the 30th.

Share Transfer

  • Transfers are for the exact amount of the overdraft and can come from any of your HCU savings or other Spending accounts.
  • $3 fee for each transfer made.
  • Due to regulations, you may be limited to up to six transfers per month.
Image
Image

Courtesy Pay

  • HCU may pay your overdrafting checks, ACH debits, recurring debit card transactions, and bill payments up to your courtesy pay limit, taking your account negative. Initial line determined by credit tier with larger lines available through request.
  • $9 fee each time you overdraw your account and the account balance is overdrawn $10.00 or more.
  • You have up to 30 days to bring your account positive from the time you access your Courtesy Pay.
  • Total fees limited to $140 daily for overdrawing your account through Courtesy Pay.

Debit Card Courtesy Pay (opt-in)

  • HCU may pay your overdrafting ATM and one-time debit card transactions up to your courtesy pay limit, taking your account negative.
  • A courtesy we extend to members in good standing and have opted-in.
  • $9 fee each time you overdraw your account and the account balance is overdrawn $10.00 or more.
  • You have up to 30 days to bring your account positive from the time you access your Courtesy Pay.
  • Total fees limited to $140 daily for overdrawing your account through Courtesy Pay.

Our systems will present your overdrafting check, debit card transaction, ACH debit, bill payment, or ATM transaction to the overdraft protection line of credit loan (if it exists), then to the Share Transfer, if needed (and if it exists) and then to Courtesy Pay, if needed (and again, if it exists). This will always be the order in which your overdrafting item will attempt to clear in our system. Members in good standing may participate in any feature or any combination of features they desire.

 

*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, or you are not making regular deposits, or you have too many overdrafts. Not included with Renew Spending accounts. For the complete HCU Overdraft Protection Policy please view our Terms and Conditions; Funds Transfer/Availability, Electronic Transfer disclosures.