Life happens! Heritage USA Federal Credit Union understands that unexpected overdrafts occur from time to time - Overdraft Coverage can help.
The choice is yours. Consider these ways to cover overdrafts:
1Call us at 432-681-1050, email us at email@example.com, or come by a branch to sign up or apply for these services.
Overdraft Protection applies to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account you may have at Heritage USA FCU Financial Institution for a fee.
Overdraft Privilege allows you to overdraw your account up to the disclosed limit for a fee to pay a transaction. Even if you have overdraft protection, Overdraft Privilege is still available as secondary coverage if the other protection source is exhausted. Please review the "What Else You Should Know" section at the bottom of this page for other important information.
If you would like to select Extended Coverage for future transactions, call us at 432-681-1050, visit any branch, complete a consent form by clicking the link below and mail it to us at 5507 W Wadley Ave; Midland, TX 79707 or email us at firstname.lastname@example.org.
Extended Coverage Consent Form
*If you choose Extended Coverage on your consumer account, ATM withdrawals and everyday debit card transactions will be included with the transactions listed under Standard Coverage. If you already have Overdraft Privilege Extended coverage, it is not necessary to request it again. You can discontinue the Overdraft Privilege in its entirety by contacting us at 432-681-1050 or sending us an email at email@example.com.
A link to another account may be a less expensive option than an overdraft. A single larger overdraft will result in just one fee, as opposed to multiple smaller overdrafts. Good account management is the best way to avoid overdrafts. Use our mobile banking, Internet banking, and telephone banking services to keep track of your balance. For additional financial education resources, please visit www.mymoney.gov.
The $29.50 Overdraft Fee that is charged is the same fee amount that is charged if a check or ACH item is returned as unpaid. If your consumer account is overdrawn by $5 or less, the Overdraft Fee is $0. If multiple items overdraw your account on the same day, each item will be assessed an appropriate Overdraft Fee or a Return Item Fee of $29.50. All fees and charges will be included as part of the Overdraft Privilege limit amount. Your account may become overdrawn more than the Overdraft Privilege limit amount because of a fee.
For consumer accounts, there is no limit on the total Overdraft Fees per day we will charge.
This describes the posting order for purposes of determining overdrafts. Our general policy is to post items throughout the day and to post credits before debits. Paper checks are posted lowest to highest dollar amount, while ATM, ACH and debit card transactions are posted in the order in which the items are received. However, because of the many ways we allow you to access your account, the posting order of individual items may differ from these general policies. Holds on funds (described herein) and the order in which transactions are posted may impact the total amount of Overdraft Fees or Return Item Fees assessed.
Although under payment system rules, Heritage USA Federal Credit Union may be obligated to pay some unauthorized debit card transactions, Heritage USA FCU will not authorize debit card or ATM transactions unless your account’s available balance (including Overdraft Coverage Options) is sufficient to cover the transactions and any fee(s).
Giving us your consent to pay everyday debit card and ATM overdrafts on your consumer account (Extended Coverage) may result in you incurring Overdraft Fees for transactions that we would otherwise be required to pay without assessing an Overdraft Fee. However, this would allow us to authorize transactions up to the amount of your Overdraft Privilege limit and may also help you avoid overdrafts in excess of your available balance that could result in suspension of your debit card. If you consent to Extended Coverage on your consumer account, it will remain on your account until you otherwise withdraw it.
Heritage USA Federal Credit Union authorizes and pays transactions using the available balance in your account. Heritage USA FCU may place a hold on deposited funds in accordance with our Deposit Account Agreement and Disclosure, which will reduce the amount in your available balance. The available balance for checks, ACH items, and recurring debit card transactions is comprised of the ledger balance, less any holds on deposited funds and any debit card holds, plus the amount of the Overdraft Privilege limit and any available overdraft protection. The available balance for ATM and everyday debit card transactions on accounts with Standard Coverage is the ledger balance, less any holds on deposited funds and any debit card holds, plus any available overdraft protection, but does NOT include the Overdraft Privilege Limit. For accounts with Extended Coverage, the Overdraft Privilege Limit is included in the available balance for authorizing ATM and everyday debit card transactions.
Please be aware that the Overdraft Privilege amount is not included in your available balance provided through Heritage USA Federal Credit Union’s online banking, mobile banking, or Heritage USA Federal Credit Union’s ATMs.
Heritage USA Federal Credit Union will place a hold on your account for any authorized debit card transaction until the transaction settles (usually within three days) or as permitted by payment system rules. In some cases, the hold may exceed the amount of the transaction. When the hold ends, the funds will be added to the available balance in your account. If your account is overdrawn after the held funds are added to the available balance and the transaction is posted to the available balance, an Overdraft Fee may be assessed.
Except as described herein, Heritage USA Federal Credit Union will not pay items if the available balance in your account (including the Overdraft Privilege limit, if applicable) is not sufficient to cover the item(s) and the amount of any fee(s).
Heritage USA Federal Credit Union may suspend your debit card if you incur overdrafts in excess of the available balance in your account, including any Overdraft Privilege limit (as described herein). Debit cards on your account will remain suspended until you make sufficient deposits so that your available balance, taking into account any Overdraft Privilege limit, is positive and then you contact us.
Heritage USA Federal Credit Union may also suspend your debit card if your account is overdrawn more than 32 consecutive calendar days. Debit cards on your account will remain suspended until you make sufficient deposits so that your account balance is positive.
Heritage USA Federal Credit Union may also suspend your debit card if we are unable to contact you due to an incorrect mailing address or phone number(s). You must contact us with your correct mailing address and/or phone number(s) to have your debit card reinstated.
If your debit card is suspended, you will be unable to use your debit card for purchases or to access your account(s) at the ATM, and if you use your debit card for recurring payments, e.g., utilities, you are responsible to make other arrangements for your recurring debit payment(s).
An Overdraft Privilege limit of $800 will be granted to eligible consumer checking accounts opened at least 35 days in good standing and has direct deposit. An Overdraft Privilege limit of $1,000 will be granted to eligible business checking accounts opened at least 60 days in good standing.
Overdraft Privilege is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice.
Overdraft Privilege may be discontinued if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within 32 days for a minimum of one business day. You must bring your account balance positive for at least one business day to have Overdraft Privilege reinstated.
Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the Deposit Account Agreement and Disclosure. The total (negative) balance, including all fees and charges, is due and payable upon demand.
If you have any questions about Overdraft Protection or Overdraft Privilege, please call us at 432-681-1050 or visit a Heritage USA Federal Credit Union branch.