Overdraft Services

OVERDRAFT COVERAGE OPTIONS:
OVERDRAFT PROTECTION AND OVERDRAFT PRIVILEGE

Life happens! Memorial Credit Union understands that unexpected overdrafts occur from time to time – Overdraft Coverage can help.

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

Service Cost
Overdraft Protection link to another deposit account you have at Memorial Credit Union (1)
$5.00 fee per transfer
Overdraft Protection Line of Credit (1,2)
Subject to fees + interest
Overdraft Privilege
$28.00 Overdraft Fee per item. Over limit fee may apply.

¹Call us at 713.778.6300, email us at odpservices@memorialcu.org, or come by a branch to sign up or apply for these services; ²Subject to credit approval.

Overdraft Protection applies to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account or line of credit you may have at Memorial Credit Union for a fee or finance charge. Please note that overdraft lines of credit are subject to credit approval.

Overdraft Privilege allows you to overdraw your account up to the disclosed limit for a fee to pay a transaction. Even if you have Overdraft Protection, Overdraft Privilege is still available as secondary coverage if the other protection source is exhausted. Please click the “What Else You Should Know” disclosure link below for other important information.  

Transactions Covered with Overdraft Privilege Standard Coverage (No action required) Extended Coverage*
Checks
X
X

If you would like to select Extended Coverage
for future transactions:
ACH - Automatic Debits
X
X
Recurring Debit Card Transactions
X
X
Online Bill Pay Items
X
X
Internet/Telephone Banking
X
X
Teller Window Transactions
X
X
ATM Transactions
X*
Everyday Debit Card Transactions
X*

*If you choose Extended Coverage on your account, ATM transactions and everyday debit card transactions will be included with the transactions listed under Standard Coverage. If you already have Overdraft Privilege Extended Coverage, it is not necessary to request it again.

You can discontinue Overdraft Privilege in its entirety by contacting us at 713.778.6300 or sending us an email at odpservices@memorialcu.org.

For additional financial education resources, please visit www.mymoney.gov.

   “What Else You Should Know” Disclosure