Have you Opted-In?
APCO Employees Credit Union has several ways to protect your money and best interest. One of those is overdraft protection and overdraft privilege.
It’s easy – if you write a check, use your debit card, or preauthorize a payment from your account, and you don’t have enough money in the account to cover it, your Credit Union will pay it.
We know mistakes happen from time to time and, while we don’t want to encourage overdrafts, we do want to save you money and your reputation, when we can.
How Overdraft Protection (ODP) Works
With ODP, if there is not enough money in your checking account to clear the checks you’ve written, we first check your share account. If the money is available, we will transfer the funds needed from shares to your checking account. A $1.50 transfer fee is charged each time.*
If your share account does not have the funds needed to cover the transaction, but you are enrolled in Overdraft Privilege, your transactions are covered by your Credit Union.
How Overdraft Privilege Works
Overdraft Privilege is a benefit for eligible checking accounts. With Overdraft Privilege, if you inadvertently overdraw your account, we have the option to cover your overdrafts, including fee(s), thereby saving you the embarrassment and inconvenience of a returned or declined item, as well as the fee normally charged to you by merchants for items returned to them.
As long as you maintain your account in good standing* (defined as making regular deposits, and bringing your account to a positive balance, including payment of all bank fees charged to your account, at least once every 30 days,) APCO Employees Credit Union may honor overdrafts up to the Overdraft Privilege limit on your account.
Overdraft Privilege automatically covers the following transactions:
- Recurring Debit Card Purchases (POS)
- In-Person Teller Transactions
- Check Writing
- Online Bill Pay
- ACH Transactions
Other transactions can be covered by signing an Opt-In agreement at your Credit Union branch, including:
- ATM transactions
- Everyday debit card transactions at the merchant
If you do not give APCO Employees Credit Union prior consent, we cannot cover those transactions.
How do I Opt-In?
Select one of the four options below:
- Submit the online Opt-In form at apcocu.org.
- Call 1-800-249-APCO(2726) or 205-226-6800 to speak with a call center representative that can process your request over the phone.
- Call your local branch to Opt-In over the phone
- Stop by any branch and Opt-In
* Federal Regulation D places a monthly limit on the number of transfers you may make from your Savings Accounts without your physical presence being required. Transfers affected by this regulation therefore include:
- Transfers made using Internet Banking
- Transfers made using Telephone Banking
- Overdraft transfers (made automatically to cover insufficient funds in your checking account)
- Transfers made by a Member Service Representative on your behalf
- Pre-authorized, automatic, scheduled or recurring transfers (EFT or ACH Transactions)
You are allowed six such transfers per month.
* Whether your overdraft will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing or you are not making regular deposits, or have too many overdrafts. To ensure you don’t exceed your limit if you use Overdraft Privilege, please note that the amount of the overdraft plus our standard NSF fee of $15.00 for each item will be deducted from your overdraft limit.