Overdrafts and Overdraft Fees

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

1. We have standard overdraft practices that come with your account.
2. We also offer overdraft protection plans, such as a link to another account which may be less costly than our standard overdraft practices.

The choice is yours. Consider these ways to cover overdrafts:

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Standard Overdraft

What are the standard overdraft practices that come with my account?

We do authorize and pay overdrafts through our Courtesy Pay Program for the following types of transactions:

• Checks and other transactions made using your checking account number
• Automatic bill payments

We will not authorize and pay overdrafts for the following types of transactions without your consent.

• ATM transactions
• Everyday debit card transactions

We pay overdrafts 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 and pay an overdraft, your transaction will be declined.

What fees will I be charged if IH Credit Union pays my overdraft?

Under our standard overdraft practices:

• We will charge you a fee of up to $30 each time we pay an overdraft
• We will not charge you a fee if your account is overdrawn by $10 or less on any given day
• If your account is overdrawn for 30 or more consecutive calendar days, we will charge an additional $5 for each of the consecutive calendar days the account remains overdrawn
• There is no limit per day on the total fees we can charge you for overdrawing your account
• We use the available balance when calculating overdraft fees. Please see the Overdraft Coverage Disclosure below for additional information.

What if I want IH Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call (937) 390-1800, visit our website at http://www.ihcreditunion.com, or complete this form and present it at a branch or mail it to: 5000 Urbana Road, Springfield, OH 45502.

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Overdraft Protection

Courtesy Transfer services apply to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account you may have at IH Credit Union.

• A link to another account is a less expensive option ($5.oo fee per transfer) than an overdraft.
• A single larger overdraft will result in just one fee, as opposed to multiple smaller overdrafts.

Please note that overdraft lines of credit are subject to credit approval.

For more information, see our Overdraft Coverage Disclosure 07-26-2018

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You can also revoke your authorization for IH Credit Union to pay these overdrafts at any time by any of the above methods. Your revocation must include both your name and your account number so that we can properly identify your account.