MMFCU offers an Overdraft Privilege Program to help prevent declined transactions when funds are insufficient. Eligible members can receive overdraft coverage up to $500, with a $25 fee per overdrafted item (or $10 if the overdraft is less than $25). Members can request an annual refund of up to $50 in overdraft fees.
Overdrafts must be repaid within 30 days to maintain the privilege. If an account remains negative beyond 45 days, it may be closed, and after 60 days, it will be charged off. Financial counseling is available for members who frequently use overdraft services.
To qualify, you must be in good standing, meaning:
· Your account has been open for at least 30 days.
· You are not delinquent on any loans (over 30 days).
· You do not have a history of excessive overdrafts.
· You have not caused a financial loss to MMFCU.
You must opt-in to overdraft coverage for ATM and debit card transactions and can opt-out at any time. MMFCU will notify members of overdraft fees. To opt-in or opt-out, please fill out the form using online banking or come in to our branch to sign the form.
Minors are not eligible for overdraft privileges.
For more information on Overdraft Privilege, view the Overdraft Privilege Brochure and Overdraft Privilege Policy. If you have any questions or need financial assistance, please contact us at [email protected]
