Overdrafts on your share draft checking account may be covered up to $500 or $750, which includes the amount of the overdraft plus overdraft fees charged by Democracy FCU. The approved limit is based upon your direct deposit status with the Credit Union. Please click here to review the Democracy FCU Fee Schedule. When you use Overdraft Privilege you have 30 days to bring your account current.
If you have other forms of overdraft protection, such as a line of credit or automatic transfer from other accounts, we will use those methods first. We will only use your Overdraft Privilege if funds are not available in the other options.
You do not need to apply for Overdraft Privilege. Members in good standing who have had a checking account for at least 90 days, have no legal orders against the account and who make regular deposits to that account can have Overdraft Privilege. However, you can choose not to have Overdraft Privilege assigned to your account.
Overdraft amounts up to your Overdraft Privilege approved limit; including the actual overdraft, and any Democracy FCU associated fees may be applied to:
If you have additional questions or concerns please call us at 202-488-5400 or ask to see a Member Services Representative when you visit a branch. We will help you evaluate your overdraft privilege options.
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