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Overdraft Options

Overdraft Protection

What You Need to Know about Overdrafts and Overdraft Fees

Go To Enrollment Form

Federal regulations require that you must authorize LOC Federal Credit Union to pay overdrafts on your everyday debit card transactions. If you do not Opt-In to authorize us to pay overdrafts for these types of transactions, they will be declined when sufficient funds are not available in your account.

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 three different ways:

1. We have standard overdraft practices that come with your account.

2. We provide overdraft transfers, such as a link to a regular savings account, which may be less expensive than our standard overdraft practices.

3. We offer another overdraft plan, such as a Personal Line of Credit (MoneyLine Loan), which may be less expensive than our standard overdraft practices. To learn more, ask us about this plan.

What are the standard overdraft practices that come with my account?

We do authorize and pay overdrafts for the following types of transactions:

  • Checks and other transactions made using your checking account number
  • ACH transactions
  • Recurring debit card transactions
  • LOC Bill Pay transactions

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

  • Everyday debit card transactions

We pay 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 LOC Federal Credit Union pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $30.00 each time we pay an overdraft
  • There is no limit on the total fees we can charge your for overdrawing your account
What if I want LOC Federal Credit Union to authorize and pay my overdrafts on my everyday debit card transactions?

If you want us to authorize and pay overdrafts on everyday debit card transactions please:

  • Call 800.837.4562
  • Complete the form below
  • Print this form and mail to LOC

Overdraft Protection Enrollment Form

Use this form to change your preference for overdraft protection for everyday debit card transactions. You can change your preference at anytime. Please note that the submission of this form does not immediately change your preference. An LOC employee must update your account during normal business hours.

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    • Please indicate below whether you would like to opt-in or opt-out of overdraft protection for everyday debit card purchases with your LOC account.

    • I would like to:


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