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Overdraft Privilege and Overdraft Protection

Life Happens!

Community First Credit Union understands that checking or debit overdrafts occur from time to time – our Overdraft Coverage can help.

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

Service Cost
Overdraft Protection
Link to Another Deposit Account you have at Community First Credit Union1
$2.00 fee per transfer
Overdraft Privilege $30.00 Overdraft Paid Item Fee per item.

1Call us at (440) 997-5919, option 2, or come by our office to sign up or apply for this service.

Overdraft Protection 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 Community First Credit Union for a fee.

Overdraft Privilege allows you to overdraw your account up to the disclosed limit for a fee in order to pay a transaction.

Transactions Covered with Overdraft Privilege Standard Coverage

(No action required)

Extended Coverage

(Your consent is required)*

If you would like to select Extended Coverage for future transactions:
  • Call us at (440) 997-5919, option 2

  • Visit our office, or

  • Complete a consent form and mail it to us at:

    2043 E Prospect Road,
    Ashtabula, OH 44004.

Checks X X
ACH – Auto Debits X X
Recurring Debit Card Payments X X
Online Bill Pay Items X X
Internet Banking Transfers X X
Telephone Banking X X
Teller Window Transactions X X
ATM Withdrawals   X*
Everyday Debit Card Transactions   X*

*If you choose Extended Coverage, ATM withdrawals and everyday debit card transactions will be included with the transactions listed under Standard Coverage.  Business accounts automatically have Extended Coverage.

You can discontinue the Overdraft Privilege in its entirety by contacting a Member Service Representative at (440) 997-5919, option 2, or visiting our office.

What Else You Should Know

  • A link to another account is 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.

  • The $30.00 Overdraft/Courtesy Pay Fee is the same fee amount that is charged if a check is returned as unpaid. If multiple items overdraw your account on the same day, each item will be assessed an appropriate Overdraft/Courtesy Pay Fee or a Return Fee of $30.00. All fees and charges will be included as part of the Overdraft Privilege limit amount. Your account may become overdrawn in excess of the Overdraft Privilege limit amount as a result of a fee.

  • We generally post items in the following order: 1) credits, 2) ATM and debit card transactions (in the order received), 3) ACH debits (in the order received), 4) checks (lowest to highest dollar amount); however, exceptions will occur. Holds on funds (described below) and the order in which transactions are posted may impact the total amount of Overdraft/Courtesy Pay Fees or Return Fees assessed.

  • Although under payment system rules, Community First Credit Union may be obligated to pay some unauthorized debit card transactions, Community First Credit Union will not authorize debit card or ATM transactions unless there are available funds (including Overdraft Coverage Options) to cover the transactions and any fee(s).

  • Giving us your consent to pay every day debit card and ATM overdrafts may result in you incurring Overdraft/Courtesy Pay Fees for transactions that we would otherwise be required to pay without assessing an Overdraft/Courtesy Pay 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 funds that could result in restriction of your debit card.

  • Community First Credit Union authorizes and pays transactions using the available balance in your account. The available balance is comprised of the ledger balance (collected funds) less any debit card holds, and does not include any deposited funds on hold. Community First Credit Union may place a hold on deposited funds in accordance with our Membership Agreement and Disclosure. If the funds in the available balance are not sufficient to cover a transaction, any available overdraft protection and/or the amount of the Overdraft Privilege limit, may be used to authorize and pay a transaction.

  • Community First Credit Union will place a hold on your account for any authorized debit card transaction until the transaction settles (usually within two business 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/Courtesy Pay Fee may be assessed.

  • Except as described in this letter, Community First Credit Union will not pay items if your account does not contain available funds (including the Overdraft Privilege limit) to cover the item(s) and the amount of any fee(s).

  • We may restrict your debit card use if you incur overdrafts in excess of the available funds in your account, including any Overdraft Privilege limit.

  • 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 thirty-two (32) days for a minimum of one business day.

  • 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 and Disclosure Agreement. 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 a Member Service Representative at (440) 997-5919, option 2, or visit our office.


You can print a complete disclosures and consent form (includes the information on this page) for your records.