Overdraft Protection and Overdraft Privilege
Overdraft Protection
Instead of bouncing a check and accumulating fees, Overdraft Protection is a great idea. Overdraft Protection is available from your MemberSource Savings Account, Line-of-Credit Loan or both. Transfers to cover overdrafts occur in actual amounts needed to cover your transactions, and we'll send you notification within 24 hours on business days. Best of all, each transaction is only $2. Contact our Member Service Center for more details.
Get added protection with Overdraft Privilege
Ever bounced a check and wound up paying two or three times its value just in return check fees? MemberSource has a solution— Overdraft Privilege* is a program tied to your checking account that provides eligible members with the security of knowing their overdrafts will be paid—up to a total of $500.
Overdraft Privilege may be activated after other overdraft protections (savings account balances and/or line-of-credit limits) have been exhausted. This means that when you’re overdrawn (up to your total allowed limit), we may cover it for you. One low fee per covered overdraft transaction will still apply for each check that overdraws your checking account and is paid with Overdraft Privilege, but this benefit will save you the expense and inconvenience of returned checks to the merchant due to insufficient funds. And, as long as you’re a member in good standing your Overdraft Privilege will remain active.
* Checks will be returned to payee once the Overdraft Privilege limit is depleted. Payments made on behalf of members are at the discretion of MemberSource Credit Union, and members are responsible for re-paying the credit union. This is not a contractual agreement, nor is it a loan, and the privilege may be withdrawn at any time. Please see MSCU’s Overdraft Privilege Policy for eligibility requirements. The Overdraft Privilege limit is $500, including non-sufficient funds (NSF) fees charged by MemberSource. A $28 NSF fee will be charged for every overdrawn check.
