Community First members in good financial standing have two ways to take advantage of overdraft protection:
Through Existing Accounts
In the event of an overdraft in your checking account, Community First will transfer funds from savings or other deposit accounts for a nominal fee.
Overdraft Line of Credit
Members may write a check up to their total available line of credit, regardless of the balance in their checking or savings accounts.
Overdraft Privilege is not a line of credit. If you overdraw your account, Community First has the discretion to cover your overdrafts through our overdraft privilege service.
How it Works
If you overdraw your account, we will strive to pay the overdraft, subject to the limit of your Overdraft Privilege. A $32 overdraft fee applies to each item.
Transactions that are covered by Overdraft Privilege
Overdraft Privilege is available for checks, ATM withdrawals, Visa® Debit Card transactions and ACH withdrawals.
How does Overdraft Privilege save you money?
If you write a check to a merchant who overdraws your account, Community First will strive to pay the check. That means the check will not be returned to the merchant, who would probably charge a returned check fee. Those fees can reach $30 or more per check. With Overdraft Privilege, you will be charged a $32 fee for each overdraft, but there will be no NSF (Non-Sufficient Funds) fee charged and no need to return to the merchant and issue a new payment.