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Overdraft Protection Transfers and Overdraft Privilege available for qualifying members

Overdraft Privilege

  • What types of overdrafts may be paid by Overdraft Privilege?

    Overdraft amounts up to your Overdraft Privilege approved limit; including the actual overdraft, and any Democracy FCU associated fees may be applied to:

    • Checks
    • Debit Card Transactions at Point of Sale
    • Electronic Funds Transfers
    • Bill Pay Scheduled Payments
    • Online Banking Transactions

    Whether your overdrafts 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, you are not making regular deposits, or you have too many overdrafts.


  • Do I have to apply for Overdraft Privilege?

    You do not need to apply for Overdraft Privilege. However, members must opt-in to utilize this benefit by contacting member services. 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.

  • What if I already have another form of Overdraft Protection?

    If you have other forms of overdraft protection, such as a Share Draft Overdraft 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.

  • How does Overdraft Privilege work?

    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 additional questions or concerns please call us.

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