Opt-In Request for Overdraft Coverage
Recent regulatory requirements now require members to sign a consent form to participate in overdraft protection plans (Overdraft Coverage) for ATM and debit transactions. As you know, Overdraft Coverage protects your account when you don't have enough funds in your checking account to cover a retail transaction. Please note that you do not need to sign the form to continue Overdraft Coverage for checks or ACH items.
What You Need to Know about Overdrafts and Overdraft Fees
An overdraft occurs when you do not have enough money in your account to cover a transaction. As a service, we can cover your overdrafts in two different ways. To learn more, ask us about these options:
- We have Overdraft Coverage that comes with your account.
- We also offer Overdraft Protection Plans, such as a link to a Share Savings account, Cash Management account or Personal Line of Credit, which is less expensive than Overdraft Coverage.
What is the Overdraft Coverage plan that comes with my account?
We do authorize and pay overdrafts for the following types of transactions:
- Checks and other preauthorized transactions
- Automatic bill payments
After August 15, 2010, we will not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):
- ATM transactions
- Everyday debit card transactions
Overdraft Coverage coverage is available at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize or pay an overdraft, your transaction will be declined.
What fees will be charged if MountainCrest Credit Union pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of $30 each time we pay an overdraft.
- There is no limit on the total fees we can charge you for overdrawing your account.
Are You In?
To keep your account functioning the way it does now, fill out the form below, check the acceptance box, and then submit the form. You may also call us at 1-877-601-0000 or visit any branch location.