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Overdraft Protection

Each share draft account is set up for overdraft protection. If the funds are not in the share draft (checking) account when a check tries to clear, the funds will automatically be transferred from the share (savings) account to clear the check with a $3.00 overdraft fee.

Our Line of Credit loan is another form of overdraft protection that we offer our members. When using the Line of Credit loan to cover a check, the account will be accessed a $3.00 overdraft advance fee.

Qualified members will have an added layer of safety called Courtesy Pay. Courtesy Pay adds a $500.00 overdraft limit to your checking account. If you overdraw your account, we may pay each check up to your $500.00 limit. A Courtesy Pay fee of $30.00 will be charged for each item we pay against an overdrawn account.

Here's How It Works

When a member has a check that can not clear their checking account, the ISU Credit Union will first look to see if funds are available in the savings account. If so, the credit union will use the savings as a form of overdraft protection and will charge a $3.00 fee. If the funds are not in the savings, the credit union will look for a Line of Credit loan. If there is a Line of Credit loan and the funds are available, the credit union will use it as a form of overdraft protection and will charge a $3.00 fee. If there is not a Line of Credit loan or the funds are not available, the credit union will look to see if the member has Courtesy Pay. If the member has Courtesy Pay and funds are available, the check will be cleared and the account will be charged a $30.00 fee. If the member does not have Courtesy Pay, the check will be returned and the member will be charged a $30.00 NSF fee.

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