What You Need to Know about Overdrafts
and Overdraft Fees
An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:
- We offer a Standard Courtesy Overdraft Privilege Program that comes with your account.
- We also offer automatic transfers from your savings account linked to your checking account which may be less expensive than our standard overdraft practices. To learn more, ask us about this plan.
This notice explains our standard overdraft practices.
- What are the standard overdraft practices that come with my account?
We do authorize and pay overdrafts for the following types of transactions:
- Checks and other transactions made using your checking account number
- Automatic bill payments
We do not authorize and pay overdrafts for the following types of transactions unless you ask us to:
- ATM transactions
- Everyday debit card transactions
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.
- What fees will I be charged if Clarence Community & Schools Federal Credit Union (CCSFCU) pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of $30.00 each time we pay an overdraft.
- There is no limit on the total fees we can charge you for overdrawing your account.
- What if I want CCSFCU to authorize and pay overdrafts on my ATM and everyday debit card transactions?
You may “Opt-In” by doing one of the following: Call (716) 630-0888, or complete this form and present or mail it to:
Clarence Community & Schools Federal Credit Union
9145 Sheridan Drive - P.O. Box 657
Clarence, NY 14031
You have to the right to revoke your decision at any time. If you decide that you don't want Overdraft Privilege on your account, simply download this
Opt Out Form, fill it out and present or mail it to the address displayes above.