Overdraft Protection

Ontario Shores FCU offers several helpful ways to manage and avoid overdrawing your checking account. Our overdraft protection service will provide you peace of mind and help to:

  • Avoid bouncing checks
  • Avoid merchant late fees and returned item fees
  • Eliminate the embarrassment of returned checks
  • Eliminate the need to make alternate payment arrangements
  • Protect your credit rating

Option #1 Overdraft Line of Credit

This overdraft protection option offers members the flexibility of a line of credit. If you do not have enough funds in your Checking Account when a transaction occurs, Ontario Shores FCU will advance needed funds from your Overdraft Line of Credit to cover the transaction. A small transaction fee will be charged. You must apply and be approved for an Overdraft Line of Credit.

Certain terms and restrictions may apply.

Option #2 Savings Transfer

If you do not have enough funds in your checking account when a transaction occurs, we can transfer the needed funds from your savings account to cover the transaction (not available for debit card transactions). There is no fee for this service. You must have available funds in your savings in order for the transfer to occur. You may request this service at account opening.

Option #3 Courtesy Pay

As a member in good standing, you are eligible for our new Overdraft Protection Service which protects against overdrawn funds in your share draft account and allows us to pay the item on your behalf, up to $500. There will be a $29 charge for processing this item, however, you will not pay additional fees to the third party that the check was written to for payment.

Overdraft Protection will only activate on your account when all other overdraft protection plans on your account are exhausted (i.e. links to other account and/or dedicated overdraft loans). Overdraft protection will automatically cover the following types of transactions:

  • Checks and other transactions made using your checking account number
  • Automatic bill payments
  • ACH Debits

There is nothing required of you to take advantage of this new program!

As an additional layer of protection, we are also now offering a Courtesy Pay Service. With Courtesy Pay, your ATM and /or debit card transactions may be covered, up to $500, when your share draft account becomes overdrawn. There will be a $29 charge for processing the item. You must enroll in this service for it to be active on your account.

Please refer to our Overdraft Protection Summery and Enrollment Form, which provides more information on Overdraft Protection and Courtesy Pay.

Financial Accounting