Lebanon FCU offers ‘Overdraft Privilege’ for eligible checking account holders.
- Overdraft Privilege is a discretionary service which helps protect you against having items returned in the event of an inadvertent overdraft of your account by giving you a reserve for emergencies or unexpected situations. Overdraft Privilege is automatically extended to eligible accounts and covers overdrafts caused by checks, ACH and recurring debit card transactions, such as automatic payments.
- ATM machine receipts, and other ways in which you can get available balance information, will show only your balance without the Overdraft Privilege included. However, you may be able to withdraw funds from the ATM and have transactions approved for ATM and debit card transactions, even though it will overdraw your account. In order to extend your Overdraft Privilege to cover ATM and everyday debit card transactions, you must be eligible and you must ‘opt in’ by stopping by a branch today, or call 717-272-2210 option 5.
- Overdraft Privilege is not a line of credit. However, if you overdraw your account, we have the discretion to pay the overdraft, subject to the limit of your Overdraft Privilege.
- Keep in mind that we also offer overdraft protection plans, such as a link to a savings account, which may be less costly than our standard overdraft practices. If you already have other forms of overdraft protection, Overdraft Privilege will only be used after these resources are exhausted.
- Accounts will be charged the standard Overdraft fee of $30 for handling each overdraft created by check, ACH, Point-of-Sale, ATM withdrawal, in-person withdrawal, or other electronic item that is paid and $10 for items returned. An overdrawn balance must be repaid within 35 days. We may not pay items under your overdraft privilege if you do not maintain your account in good standing by bringing your account to a positive balance within every thirty-five (35) day period for a minimum of 24 hours, if you default on any loan or other obligation to Lebanon FCU or if your account is subject to any legal or administrative order or levy.
If you would like more information on Overdraft Privilege, or would like to extend your Overdraft Privilege to cover ATM and everyday debit card transaction, contact the Credit Union today and start living with the financial peace of mind that you deserve.