Overdraft Coverage Disclosure

What You Need To Know About Overdrafts and Overdraft Fees
An overdraft occurs when you do not have sufficient available funds in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in different ways:

  • We have Standard Coverage that comes with your account, if you meet specific criteria.

  • We also offer Overdraft Transfer Plans, such as a transfer from your savings account or line of credit. These may be less expensive than our standard overdraft practices. To learn more, ask us about these options.

This notice explains our Standard Coverage practices.

What are the Standard Coverage practices that come with my account?
We do authorize and pay overdrafts for the following types of transactions:

  • Checks made using your checking account number

  • Other transactions made using your checking account number

  • Automatic bill payments

We will not authorize and pay overdrafts for the following types of transactions unless you ask us to (Opt-in):

  • ATM Transactions

  • Debit card transactions

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.

What fees will I be charged if Great NorthWest Federal Credit Union pays my overdraft?

  • We will charge you a fee of $25.00 each time we pay an overdraft over $5.00

  • There is a maximum of 6 overdraft fees per day we can charge you for overdrawing your account

  • There is NO fee to keep the Overdraft Protection service on your account.

  • There is NO fee if you never use it.

What if I want Extended Coverage so Great NorthWest Federal Credit Union authorizes and pay overdrafts on my ATM and Debit Card transactions?
To permit overdraft protection coverage for ATM and Debit Card purchase transactions, you must opt-in by using one of the following convenient methods: