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Overdraft Protection

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Even the most conscientious people can have it happen—a check returned due to insufficient funds. We know that overdrafts can be embarrassing and expensive. UW Credit Union is standing by with tools to help you when unforeseen situations arise.

We offer three overdraft protection options, each with unique advantages:

• Reserve Line of Credit

  First, we'll check to see whether you've applied for a Reserve Line of Credit. If you have this loan available, we'll automatically advance enough to cover your account in $100 increments. There's no fee for this option. Interest accrues until the loan is paid in full. To make a loan payment, simply make a deposit and transfer the payment amount to your loan.

  Don't have a Reserve Line of Credit? Apply Now | More about Reserve Line of Credit

• Transfer from Savings

  Next, we'll check to see whether a transfer from your savings accounts would prevent the overdraft. If so, then we'll automatically transfer the money (also in $100 increments) for you. There's no transfer fee for Value and Premium Checking accounts, and a small fee for Access Checking.*

• Basic Reserve

  As a last defense, qualified checking accounts automatically have Basic Reserve coverage. Access Checking has $200 of coverage; Value has $400; and Premium has $600. There's a charge for this service—the same fee as a returned check but you'll save the fees charged by merchants. Basic Reserve will cover checks or pre-arranged electronic debits (ACH), and must be repaid within 30 days.

If you prefer, you can ask us to switch the order of these options. For instance, you might request that we transfer funds from your savings accounts before advancing your loan. You can also cancel any option at any time. To request a change, simply contact us or send your request in a secure message while logged in to Web Branch.

Benefits

• Savings—no merchant charges for returned checks.
• Automatic—we'll initiate coverage on your behalf, and only when you need it.
• Protection—bills are paid on time, helping you build a positive credit history.

With all these overdraft protection options, you can relax, knowing that a miscalculation won't precipitate a flurry of returned checks.

UW Credit Union reserves the right not to pay any check or payment request for any reason, and to revoke your Basic Reserve limit at any time.

*See disclosure for details. Federal Regulation D allows up to six automatic transfers monthly, three of which may be checks, Web-debits, or merchant PIN transactions.