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Overdraft Service Information
Dear Valued Member:
We are making an important change to your Overdraft Protection service. This service, extended to members in good standing, allows us to pay withdrawals to your checking account that would cause it to become overdrawn.
Beginning August 15, 2010, you must ask us to "OPT-IN" to continue receiving Overdraft Protection for ATM and debit card transactions. Without this consent, we will decline to pay ATM and everyday debit card transactions that overdraft your account. There is no fee if we decline ATM and debit card transactions. If you do not OPT-IN, we will turn your ATM and debit card overdraft protection off on August 15, 2010. We will continue to pay overdrawn checks and automatic bill payments and charge you a fee.
Ask us for a form if you want to opt-in now. Opt-out is automatic unless you sign an Opt-In Form.
We charge a $30.00 fee each time we pay an overdraft. If you cause an overdraft, you must pay the overdraft and fee to bring your account positive within 30 calendar days.
Presently, we will pay overdrafts up to a limit of $400.00 including overdraft fees.
Overdrafts are paid at our discretion. Payment of an overdraft is not guaranteed.
If you receive a federal benefit by direct deposit such as Social Security or Veterans disability, you should tell us if you do not want any of your overdrafts paid.
Overdraft Protection is simply a way for us to provide a higher level of service when an inadvertent error may cause an overdraft. We thank you for your continued loyalty.
Sincerely,
Down East Credit Union
If You Have Questions
If you have any questions regarding our policies, please contact us at:
1-800-427-1223 or write to:
Down East Credit Union
P.O. Box 130
Baileyville, Maine 04694
