Consumer Overdraft Disclosure

Our mission is your success and paying attention to your financial needs is our top priority. We believe it is important for you to use your checking account responsibly and to never intentionally overdraw your account. However, we realize from time to time you may not have sufficient funds in your account to cover transactions presented for payment. As a benefit to our customers, we offer these useful overdraft services to cover you in the event that you overdraw your checking account: Basic Overdraft, Basic Overdraft Plus, Overdraft Transfer, Overdraft Line of Credit (Checkloan) and Personal Line of Credit (DirectLine).

BASIC OVERDRAFT 

Basic Overdraft is a discretionary service we add to your checking account to cover overdrafts, subject to the eligibility criteria as explained below. We are not obligated to pay any item presented for payment if your account does not contain sufficient funds, and any discretionary payment of any non-sufficient fund item does not obligate us to pay any additional non-sufficient fund item or to provide prior written notice of our decision to refuse to pay any additional non-sufficient fund item. When we pay overdraft items for you, you will be charged our standard Overdraft Fee, currently $35.00, for each item that is presented. Both the amount of the overdraft item(s) and all applicable fees, including but not limited to Overdraft Fee(s), will be included in the overdraft amount.

Transactions Covered

Transactions covered by our Basic Overdraft service includes all checks you have written to third parties, bill payment transactions, pre-authorized automatic debits, and ACH items presented for payment.

Transactions covered by Basic Overdraft Plus include all checks you have written to third parties, bill payment transactions, pre-authorized automatic debits, and ACH items presented for payment plus ATM withdrawals and everyday debit card transactions. You must tell us to provide you with the Plus service.

Eligibility Criteria

No application is required for the Basic Overdraft or Basic Overdraft Plus service; eligibility is based on you managing your account relationship in a responsible manner. We will strive to pay your overdrafts under our Basic Overdraft service when your account meets certain discretionary criteria. The criteria may include, but is not limited to any or all of the following and is subject to change without notice:

  • The age of your account.
  • The deposit behavior in your account and any related accounts.
  • The overdraft behavior of your account and any related accounts. 
  • The status of any loan or other obligation to us.
  • The status of any legal or administrative orders or levy.
  • The status of any extended hold on your account or any related accounts.

We will strive to pay your overdrafts under our Basic Overdraft Plus service subject to the above criteria and receiving your affirmative consent (authorization) to pay ATM and everyday debit card transactions into overdraft. You may notify us by calling 844-327-7395 (toll free) or visiting any branch location. Your consent for Basic Overdraft Plus is not required to receive our Basic Overdraft service.

Ineligible accounts include, but are not limited to, accounts owned by a minor, fiduciary trust or escrow accounts, dormant accounts, or accounts with an attached line of credit.

Suspension/Removal of Privilege

You may be suspended or removed immediately from the service if: 

  • You do not bring your deposit account to a positive balance within a 30 day period;
  • You have an outstanding balance under a Fresh Start or other overdraft repayment plan; 
  • You fail to meet our eligibility criteria; or
  • We believe you are not managing your account in a responsible manner which may harm you or us, even if you meet our eligibility criteria.
Payment Order of Items

The order in which items are presented may affect the total fees you incur. The first items that we pay are any checks cashed by our employees or that you have written to us. We then pay any items that were submitted electronically, such as ATM withdrawals, ACH items, any debit card transactions, preauthorized automatic transfers, telephone-initiated transfers and any other electronic transactions. Finally, we pay the remaining items from lowest to highest dollar amount.

Opt Out - You may never need to take advantage of either of these services but you may find it useful in the event of a temporary shortfall. Basic Overdraft is automatically provided if you meet the eligibility criteria; you may tell us you do not want this service. Basic Overdraft Plus requires your consent. If you consent then later decide you do not want the service you may tell us to remove the service from your account. If you decide you do not want either of these services and prefer that we return or deny insufficient fund items, simply contact us at 888-820-6840 and we will remove the service(s) from your account.

Additional Information

Your account agreement describes the duties, obligations, and rights of depositors, authorized signatories and the bank with regard to your deposit accounts. That account agreement is incorporated herein for all purposes as if it were set forth verbatim as to matters not directly addressed by this disclosure. Your account agreement and this disclosure shall be construed so as to minimize conflicts between them.

Waiver: The Bank’s forbearance from, or delay in, exercising any of the Bank’s rights, remedies, privileges, or right to insist on your strict performance of any provisions of your account agreement, this Overdraft Services Disclosure, or any other provision related to your account, shall not be construed to be a current or future waiver of the Bank’s rights, remedies or privileges.

Arbitration: You and the Bank agree that the exclusive remedy and forum for all disputes arising out of the overdraft service or your or Bank’s performance there under, except for matters you or Bank take to small claims court, is arbitration by an independent arbitrator pursuant to the applicable rules of the American Arbitration Association, except as prohibited by law.

OVERDRAFT TRANSFER

If you have other accounts with the Bank, you can authorize and set up an automatic transfer of funds needed to cover your overdraft from your other account. There will be a $10.00 per transfer fee charged at the time of transfer. Your own funds are used to cover the insufficient funds from your account therefore providing a less expensive overdraft protection alternative. 

Overdraft Line of Credit (Checkloan) 

Checkloan is a pre-approved line of credit that is linked to a specific checking account and used for the purpose of covering periodic overdrafts that may occur on the checking account. You must complete a credit application and approval is based upon your credit worthiness; minimum line amount is $500. To apply for a Checkloan line of credit or to learn more about the interest rate and repayment terms visit any of our convenient branch locations. Checkloan advances are automatic transfers used to cover the insufficient funds in your account and may be a less expensive overdraft protection alternative. 

Personal Line of Credit (DirectLine)

DirectLine is a pre-approved personal line of credit that is linked to a specific checking account and can be used for a variety of personal, family, and household needs. Advances may also be used to cover periodic overdrafts that may occur on the linked account. You must complete a credit application and approval is based upon your credit worthiness; minimum line amount is $5,000. To apply for a DirectLine or to learn more about the interest rate and repayment terms visit any of our convenient branch locations. DirectLine may be a less expensive overdraft alternative.

REV 07/01/2016