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What You Need to Know about Overdrafts and Overdraft Fees

Enroll in Overdraft Privilege (ODP)

Community First Credit Union is pleased to provide our personal and business account members with a valuable service, Overdraft Privilege. Overdraft Privilege is a service that helps our members avoid embarrassment and charges from merchants by paying items that would have been declined due to insufficient funds.

As a result of changes to federal laws, we will need you to authorize us to provide you with overdraft coverage on ATM withdrawals and debit card purchases. If you would like for Community First to strive to pay the overdrafts on your debit card transactions, please call a Member Service Representative at 904.354.8537 or toll free at 800.342.8416, giving them authorization to enroll you in Overdraft Privilege.

Even if you do not request overdraft coverage on ATM withdrawals and debit card purchases, we may still pay your overdrafts for other types of transactions, including checks. Having overdraft coverage, however, does not guarantee that we will pay all of your overdrafts. If your item is covered by Overdraft Privilege, a $30 overdraft fee applies to each item.

If you do not wish to have any level of Overdraft Privilege coverage, such as ACH or Check coverage, please call a Member Service Representative at 904.354.8537 or toll free at 800.342.8416, giving them authorization to opt you out of Overdraft Privilege.

Overdraft Fees

We will charge you an Overdraft Privilege fee of $30 each time we pay an overdraft.
There is no limit on the total fees we can charge for overdrawing your account.

Other Ways We Can Cover Your Overdrafts
We offer other ways of covering your overdrafts, such as linking your account to another account with us or an overdraft line of credit. To learn more about these options, contact us at 904.354.8537 or toll free at 800.342.8416.

Here’s an example of How You Save Money: 

Here’s an example of How You Save Money: Without Overdraft Privilege With Overdraft Privilege
Beginning Balance: $50 $50
Check: $200 $200
Non-Sufficient Funds Fee: $30 None
Merchant Fee: $25 or more None
Overdraft Privilege Fee: N/A $30
Total Fees: $55 or more $30

Overdraft Privilege Disclosure

Note: The account balance must be brought to a positive balance for 48 hours within every 20-day period. While Community First will typically pay overdrafts on accounts in good standing, payment is a discretionary courtesy, and not a right or obligation. Community First may, in our sole and absolute discretion, cease paying overdrafts at any time without prior notice of reason or cause.


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