Checking - Overdraft Protection

Heritage Credit Union has put together a number of overdraft protection accounts to protect you from the costly expenses of a returned check due to insufficient funds. At Heritage Credit Union, we do not encourage overdrafts. As always, we encourage you to manage your finances responsibly. The purpose of these accounts is to save you from the embarrassment, additional merchant fees or other problems that might result if a check is returned.

Transfer from Savings
If there is not enough money in your checking account to clear the checks you've written, we will first check your savings account. If the money is available, we will transfer the funds needed to your checking account for your checks to clear. There is a fee associated with this service.

Overdraft Protection Line of Credit
Overdraft line of credit is a service that allows your checking account to be linked to a line of credit. This is a short-term loan to be used to prevent overdraft. We will automatically transfer the money to you when your account has been overdrawn. There is a fee associated with this service.

Member Privilege Overdraft Protection
Member Privilege is an overdraft privilege limit that is automatically assigned to your HCU Checking Account. There is no action required on your part. Member Privilege is not immediate - there is a 30 day waiting period before Member Privilege will apply to your account. Member Privilege gives you an added level of protection against unanticipated cash flow emergencies and account reconciliation errors. As long as you maintain your account in good standing (defined as making regular deposits and bringing your account to a positive balance at least once every 30 days), Heritage Credit Union may honor overdrafts up to the Member Privilege limit on your account.

You will receive an overdraft notice in the mail each time items are paid. For each item paid under the limit you will be charged our NSF (non sufficient funds) fee of $30. So as not to exceed your limit if you use Member Privilege, you should note that the amount of the overdraft plus our standard NSF fee of $30 for each item will be deducted from your overdraft limit. Overdrafts above and beyond your established Member Privilege limit may result in a check or checks being returned to the payee.

The chart below is designed to make you aware of the different ways you can access your Member Privilege limit and whether or not this limit will be reflected in the balance provided.

Heritage Credit Union's Member Privilege
Access Point	Is my Member Privilege limit available?	Does the balance provided reflect my Member Privilege limit?
Teller	Yes	No
Writing a Check	Yes	-NA-
ATM Withdrawal	Yes	No
Point of Sale	Yes	No
ACH-Auto Debit	Yes	-NA-
Web Branch	No	No
Phone Account Access	No	No

In the event you would like to have this service removed from your account, you may do so by calling your local branch. However, once this service is removed, you should keep in mind that if an item is presented for payment and there are non sufficient funds in your account, the item will be returned to the payee and our standard NSF fee of $30 will be charged per item.

Member Privilege Policy: An insufficient balance could result in several ways, such as (1) the payment of checks, electronic funds transfers or other withdrawal requests; (2) payments authorized to you; (3) the return of unpaid items deposited by you; (4) the assessment of service charges; or (5) the deposit of items which, according to your credit union's Funds Available Policy, are treated as not yet available or finally paid. We are not obligated to pay any item presented for payment if your account does not contain sufficient funds. However, if you maintain your checking account in good standing (defined as making regular deposits and bringing your account to a positive balance at least once every 30 days) and there are no legal orders outstanding, we may approve your reasonable overdrafts as a non-contractual courtesy. You may opt out of the privilege at any time, but you are responsible for any overdrawn balances at the time of opting out. Normally, we will not approve an overdraft for you in excess of the predetermined overdraft limit assigned to your account type. So as not to exceed your limit, you should note that the amount of the overdraft plus the credit union's standard NSF fee (per item) will be deducted from the overdraft limit. We may refuse to pay an overdraft for you at any time, even though we may have previously paid overdrafts for you. You will be notified by mail of any non-sufficient funds items paid or returned that you may have; however, we have no obligation to notify you before we pay or return any item. The amount of any overdraft plus our non-sufficient funds handling fee(s) that you owe us shall be due and payable upon demand. If there is an overdraft paid by us on an account with more that one (1) owner on the signature card, each owner and agent, if applicable, drawing/presenting the item creating the overdraft, shall be jointly and severally liable for such overdraft plus our non-sufficient funds handling fee(s). You should note that your Member Privilege limit will not be reflected in your balance provided at the ATM or through our Web Branch or Phone Account Access. LIMITATIONS: Member Privilege is non-contractual courtesy which is available to individually/jointly owned accounts in good standing for personal of household use. Heritage Credit Union reserves the right to limit participation to one account per household and to discontinue this service without prior notice. Normal overdraft fees apply.
©1998, 2004 Ann Lee & Associates. All rights reserved.
Member Privilege is a service mark of Pinnacle Financial Strategies.