Oops-Proof Your Finances with Overdraft Protection!

Nobody’s perfect. Sometimes life moves fast, and your balance just can’t keep up. An overdraft happens when you spend more than what’s available in your checking account, and without protection, that can mean costly fees or declined payments. That’s where we come in! At First Peoples, we offer smart overdraft coverage options to help you stay protected, avoid surprises, and keep your finances stress-free.

Standard Overdraft Coverage

Our Standard Overdraft Coverage kicks in when you use checks, ACH payments (like bill pay or direct debits), or recurring debit card transactions that exceed your available balance. Instead of bouncing the transaction, we’ve got your back.

What’s covered:

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. The fact that we may honor withdrawal requests that overdraw the account balance does not obligate us to do so later. You can NOT rely on us to pay overdrafts on your account regardless of how frequently and under what circumstances we have paid overdrafts on your account in the past.

Removing Coverage:

You can remove standard overdraft coverage from your account at any time. If you remove it, the following will happen if you don’t have enough money in your checking account or in accounts linked for Overdraft Protection to cover a transaction when it is presented to us for payment or authorization:

• We will return your checks and other returnable items, such as ACH payments, as unpaid and charge a returned item fee (non-sufficient funds/NSF) in accordance with our Fee Schedule.
• We will not authorize certain transactions such as cashed checks, recurring debit card transactions, or Bill Pay transactions into overdraft. Important: If these transactions are authorized when your account has enough money but are later presented for payment when your account does not have enough money, we’ll pay the transaction into overdraft and charge an overdraft fee.
• We will not authorize ATM and everyday (one-time) debit card transactions (such as one-time debit card purchases) into overdraft. If you opted-in to have the credit union authorize and pay overdrafts on everyday debit/check card transactions (one-time, point of sale transactions) the service will also be removed.
• Standard Overdraft Coverage is a requirement of some credit union services and opting-out may affect your ability to gain access.

How it helps you:

• Prevents bounced checks and returned payments

• Avoids merchant fees and late payment charges

• Offers peace of mind when your balance gets low

Debit Card Overdraft Coverage (Opt In)

Want to take your coverage a step further? You can opt in for additional protection on everyday debit card purchases. This way, you’re covered if you're a few dollars short at the grocery store, gas station, or while grabbing a coffee.

What you need to know:

When you don’t have enough money in your checking account or accounts you have linked for Overdraft Protection at the time of an everyday (one-time) debit card transaction:

• Even if you’re enrolled in Debit Card Overdraft Service, ATM transactions will not be authorized into overdraft.
• If you aren’t enrolled in Debit Card Overdraft Service, the transaction will be declined and no fees apply. If a previously authorized transaction creates a negative balance when it posts, you won’t be assessed an overdraft fee.
• For enrolled accounts in good standing the maximum amount an account can be overdrawn is $1,500 (including fees). This limit is assessed daily and can change. After this limit is reached any further transactions will be declined.

Debit Card Overdraft Service does not apply to checks and other recurring transactions.

With or without Debit Card Overdraft Service, the credit union may continue to pay these other transaction types into overdraft, at our discretion, and our standard overdraft fees and policies will apply.

Debit Card Overdraft Service isn’t available for certain accounts. Debit Card Overdraft Service is a discretionary service that may be removed by the credit union for a variety of reasons including excessive overdrafts or returned items.

Why it’s worth it:

• Covers those small, everyday purchases when your balance dips

• Helps you avoid the embarrassment of declined transactions

• You stay in control, enroll or cancel anytime

This coverage is not automatic; you'll need to let us know you'd like to opt in. It’s easy, and you can change your preferences at any time.

Fees:
If you opt in, you'll be charged $40.00 each time we pay an overdraft on a debit card transaction. 
 

Overdraft Protection

Prefer to avoid overdrafts altogether? With Overdraft Protection, you can link a line of credit or even your FP Visa® to cover shortfalls. Instead of triggering an overdraft fee, we simply transfer funds from your linked account.

What’s covered:

This is an optional service you can add to your checking account by linking it up to an eligible Credit Union account to authorize or pay your transactions if you don’t have enough money in your checking account.

•  Overdraft Protection isn’t available for all accounts; eligibility requires approval for qualified lines of credit, and all loans must be current and have a sufficient available balance to cover the overdraft/deficiency.
• Overdraft Protection advances may occur to cover pending transactions, even if these transactions are not subsequently presented for payment. 

Why members love it:

• No overdraft fees, just a simple transfer

• Helps you manage money across accounts

• It’s automatic when funds are available

Setting this up is quick, easy, and puts you in control of your finances. Just let us know which account you'd like to link, and we’ll handle the rest.

Fees:

• A $40.00 fee per year when funds are transferred from your FP Visa®.

• A $50.00 fee per year when funds are transferred from your Line of Credit.

• A $100.00 fee per year when funds are transferred from your Commercial Line of Credit.

Ready to Stay Covered?

Overdrafts happen, but with the right protection, they don’t have to be a big deal. Whether you want standard coverage, debit card overdraft options, or a linked account for protection, we’re here to help you choose what works best for your lifestyle.

Have questions? Stop by your local branch or give us a call to manage your overdraft settings.