Checking

Overdraft Protection

Overdraft Protection is a service to help you prevent overdrafts and returned checks on your checking account.

Overdraft Protection is a revolving line that allows you to borrow money up to an approved credit limit, any time you need the funds. Interest is charged only on the amount actually borrowed. As payments are made, the funds become available again. There is no cost to set up overdraft protection.

Here’s what Overdraft Protection provides:

• Credit lines are available up to $10,000.
• The minimum monthly payment is 3% of the outstanding balance or $25, whichever is greater.
• Ability to prepay your loan at any time without penalty.
• Interest is tied to the Prime Lending Rate and adjusts monthly.
• Low $20 annual maintenance fee.

To add overdraft protection to your checking account, simply indicate the amount of overdraft protection you want in the overdraft protection section of the checking account application.