Overdraft Protection

CoverMe for protection and peace of mind

Sometimes, things don’t go as planned. Our CoverMe overdraft program may provide protection, so you’re covered when life throws you a curveball.

Understanding your overdraft protection options

The CoverMe overdraft program includes three services. Each is designed to potentially cover an insufficient available balance.

If you have any questions or would like to review your service eligibility and/or coverage limits, you can contact us through our Virtual Financial Center, by phone at 800-879-7328, or at your local financial center.

Service

Availability

Coverage, fees, limits

Automatic transfers
Consumer accounts
  • All consumer checking accounts are automatically opted in for transfers from primary savings or preferred line of credit
Business accounts
  • All business checking accounts are automatically opted in for transfers from primary savings
  • Covers negative available balances in checking accounts by automatically transferring available funds from other linked SECU deposit accounts
  • Coverage limited by funds in linked accounts
  • No fees from a linked SECU deposit account
  • Advances from a preferred line of credit begin to accrue interest immediately

Courtesy pay
Consumer accounts
  • All eligible members are automatically opted in
  • Members can opt out of courtesy pay by speaking with a SECU representative
Business accounts
  • All eligible businesses are automatically opted in
  • Businesses can opt out of courtesy pay by speaking with a SECU representative
  • Covers checks and ACH transactions
  • Dynamic coverage limit based on account/member history. Coverage limit includes any fees assessed.
  • $30 per paid or unpaid transaction, up to a daily fee cap

Courtesy Pay+
Consumer accounts
  • Consumer account must be eligible, opted in to courtesy pay, and have an available limit
  • Eligible members may opt in or out through online banking or by speaking with a SECU representative
Business accounts
  • All eligible businesses are automatically opted in
  • Covers nonrecurring point-of-sale/debit card transactions
  • Dynamic coverage limit based on account/member history. Coverage limit includes any fees assessed.
  • $30 per paid or unpaid transaction, up to a daily fee cap

Overdraft protection FAQs

Consult the FAQs below, What to Know About Overdrafts, or the Consumer or Business Agreements and Disclosures for more information on overdraft options and ways to prevent fees.

An overdraft is created when the available balance in your checking, share savings, or other deposit account is not sufficient to cover a check, withdrawal, automatic transfer, electronic transaction, returned deposited item, or any other electronic purchase payment or debit.

See our Agreements and Disclosures booklet for important details on your checking account balances, overdrafts, and helpful tips to avoid overdrafts.

Yes, the checking account courtesy pay limit is based on account history. The limit may increase, decrease, or be reduced to no limit at any time.

Since limits are based on account history, members can’t request a set limit.

You must make a deposit to correct the negative balance. Use our mobile deposit service or stop by one of our financial centers or ATMs to address the issue.

No. You can’t use your SECU debit card to withdraw more funds at an ATM than are available in your account.

When you make a new deposit to an account, we will use that to offset any negative balance. If the account stays negative, we will send a letter after 10 days notifying you of the situation. After 30 days, we start collection letters.