Types of Overdraft Protection

Overdraft protection acts as a “safety net” that covers your debits and keeps you from incurring certain fees should you overdraw your checking account. We provide three types of overdraft protection: from a personal line-of-credit, from your Regular Savings account and from Courtesy Pay.

1. Overdraft Protection Line-of-Credit
This type of overdraft protection is a personal protection loan. When necessary, funds are automatically transferred from the line-of-credit to cover any debits. There's no fee for the service, but as with any loan, an interest rate applies. You must apply and be approved for the Overdraft Protection Line-of-Credit for it to become effective. Read our disclosure for more details.

2. Savings Overdraft
Vantage Credit Union automatically transfers the necessary funds from your Regular Savings account to cover any debits for a nominal fee. If you don’t have an Overdraft Protection Line-of-Credit or you've exhausted your line, you automatically receive overdraft protection from your Regular Savings. Due to Federal Regulation D, the total number of transfers that can be completed from your Regular Savings is limited to six each month.

3. Courtesy Pay
Courtesy Pay is literally a courtesy we extend to eligible members if they've OPTED IN for Vantage to authorize and pay their overdrafts. (See Overdraft Protection FAQs for Regulation E details.) In the event of an accidental overdraft when all other overdraft options have been exhausted, Courtesy Pay saves you fees normally charged by merchants for each item returned. This service covers overdrafts after first deducting our standard (non-sufficient funds) NSF Fee for each overdraft created by checks, in-person withdrawals, ATM withdrawal or by other electronic means. Any overdraft balance must be repaid within twenty (20) days. It's the sole and absolute discretion of Vantage Credit Union to pay or not pay any account overdraft.