IU Credit Union MobileMobile  •   •  Click here to check the weather in BloomingtonWeather

 

IU Credit Union "We started a credit union and created a community."
 
YOU ARE HERE: Home » Account Services » Overdraft Privilege Form

What you need to know about Overdrafts & Overdraft Fees

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we may pay it anyway. We can cover your overdrafts in two different ways:

1. We have standard overdraft practices (Overdraft Privilege) that come with your account.
2. We also offer overdraft protection plans, such as a link to a regular savings account, which may be less expensive than our standard practices. To learn more, ask us about these plans.

This notice explains our standard overdraft practices (Overdraft Privilege).

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 will not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):
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 IU Credit Union pays my overdrafts?
Under our standard overdraft practices:
We will charge you a fee of $30 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 IU Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions?
If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions:
• Complete the electronic form below, or
• Complete, print and fax this page to 812-856-4214, or
• Complete, print and drop off this page at your nearest branch, or
• Call us at 812-855-7823 or toll free 888-855-6928 option 9 to opt-in over the phone

Discretionary Overdraft Privilege Agreement (pdf, 19k)

(Please select the appropriate box below, complete your information, then click the Secure Submit button.)

I want IU Credit Union to authorize and pay overdrafts on my ATM and everyday
debit card transactions.

I do not want IU Credit Union to authorize and pay overdrafts on my ATM and everyday
debit card transactions.

*Name (First M. Last)
*Member Number
*Email
* indicates a required field
eServices
Check Today's Rates & Fees
Account Services
Membership

Related topics:

  • How to Avoid Fees
  • Protect Your Identity

Community Matters
Click Here for Important IUCU News.
Financial Education
Security Center
Visit our Auto Center!
Apply for a Loan

 

Find IU Credit Union on Facebook! Follow IU Credit Union on Twitter! Watch IU Credit Union on YouTube!  CO-OP ATM Network  We're part of the Shared Branching Network Alliance One Surcharge-Free ATM NetworkMasterCard SecureCode
Home  |  Site Map  |   PRIVACY POLICY   |  Disclosures  |  Contact Us

Federally insured by NCUA
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.The IU Credit Union is Equal Housing Opportunity. We do business in accordance with the federal fair housing law and the equal credit opportunity act.