Personal Line of Credit
If you accidentally overdraw your checking, it can save you from paying $28 in fees.
|Type of Transaction||Standard Coverage, no action required||Extended Coverage, your consent required|
|ACH - Auto Debits||X||X|
|Recurring Debit Card Payments||X||X|
|Online Bill Pay Items||X||X|
|Internet Banking Transfers||X||X|
|At the Teller Window||X||X|
|Everyday Debit Card Purchases||X|
|Ways to Cover Your Overdrafts||Example of Possible Cost for Each Overdraft|
|Good Account Management||$0|
|Link to Savings Account||$4 per transfer|
|Personal Line of Credit||$5 to access line of credit, then 18.00% annual percentage rate on the loan with payments of $50 per month minimum|
|Standard Overdraft Coverage||$28 fee per item presented* plus, after 5 days of a negative balance, $5 per day up to $55|
|Extended Overdraft Coverage||$28 fee per item presented* plus, after 5 days of a negative balance, $5 per day up to $55|
|Bounced Check||$28 fee per item presented*, after 5 days of a negative balance, $5 per day up to $55 from us and another $20-$30 from the merchant|
* Per item presented means each time an item is presented, including re-presentment.*
An overdraft occurs when a transaction exceeds your available balance in your account, but we pay it anyway. We can cover your overdrafts in two different ways:
We do authorize and pay overdrafts for the following types of transactions:
We do not authorize and pay overdrafts for the following types of transactions without your consent.
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.
Under our standard overdraft practices:
If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call (217) 875-2301, submit the form below or print the completed form below and present it at a branch or mail it to: 260 W Marion Avenue, Forsyth, IL 62535. You can revoke your authorization for Decatur Earthmover Credit Union to pay these overdrafts at any time by any of the above methods. Your revocation must include both your name and your account number so that we can properly identify your account.