Products & Services

Overdraft Coverage Options:

OVERDRAFT PRIVILEGE AND OVERDRAFT PROTECTION

Life happens! Hershey FCU understands that unexpected overdrafts occur from time to time - Overdraft Coverage can help.

Overdraft Coverage Options
The choice is yours. Consider these ways to cover overdrafts:

Service

Cost

Overdraft Protection Link to Another Deposit Account you have at Hershey FCU1

$0 fee per transfer

Overdraft Protection Link to a Cash Advance on your Hershey FCU credit card1, 2

$0 Transfer Fee; Subject to interest

Overdraft Protection Line of Credit1, 2

$0 Transfer Fee; Subject to interest

Overdraft Privilege

$33.00 ODP Fee per item.

 

1 Call us at (717) 533-9174, email us at hfcumemberservices@hersheyfcu.org, or come by a branch to sign up or apply for these services; 2 Subject to credit approval.

Overdraft Protection services apply to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account, cash advance, or line of credit you may have at Hershey FCU for a finance charge. Please note that cash advances and overdraft lines of credit are subject to credit approval.

Overdraft Privilege allows you to overdraw your account up to the disclosed limit for a fee in order to pay a transaction. Even if you have overdraft protection, Overdraft Privilege is still available as secondary coverage if the other protection source is exhausted.

Transactions Covered with Overdraft Privilege

Standard Coverage
(No action required)

Extended Coverage (consent required on consumer accounts)*

If you would like to select Extended Coverage for future transactions:

  • call us at (717) 533-9174,
  • complete the online consent form Click here.
  • visit any branch,
  • complete a consent form and mail it to us at 232 Hershey Road, Hummelstown, PA 17036, or
  • e-mail us at hfcumemberservices@hersheyfcu.org

Checks

X

X

ACH - Automatic Debits

X

X

Recurring Debit Card Payments

X

X

Online Bill Pay Items

X

X

Internet Banking Transfers

X

X

Telephone Banking

X

X

Teller Window Transactions

X

X

ATM Withdrawals

 

X*

Everyday Debit Card Transactions

 

X*

* If you choose Extended Coverage on your consumer account, ATM withdrawals and everyday debit card transactions will be included with the transactions listed under Standard Coverage. If you already have Extended Overdraft Privilege coverage, it is not necessary to request it again. Business accounts automatically have Extended Coverage.

You can discontinue the Overdraft Privilege in its entirety by contacting us at (717) 533-9174 or sending us an e-mail at hfcumemberservices@hersheyfcu.org.

 What Else You Should Know

  • A link to another account or a line of credit is a less expensive option than an overdraft. A single larger overdraft will result in just one fee, as opposed to multiple smaller overdrafts. Good account management is the best way to avoid overdrafts.  Use our mobile banking, Internet banking, and telephone banking services to keep track of your balance. For additional financial education resources, please visit mymoney.gov.
  • The $33.00 ODP Fee is the same fee amount that is charged if a check is returned as unpaid. If multiple items overdraw your account on the same day, each item will be assessed an appropriate NSF Fee or a Return Item Fee of $33.00. All fees and charges will be included as part of the Overdraft Privilege limit amount. Your account may become overdrawn in excess of the Overdraft Privilege limit amount as a result of a fee.
  • For consumer accounts, there is no limit on the total Overdraft Fees per day we will charge.
  • This describes the posting order for purposes of determining overdrafts. We generally post items in the following order: 1) credits before debits 2) ATM and debit card transactions (in the order received), 3) ACH (in order received, credits first), 4) checks (low to high dollar amount); however, exceptions will occur.  However, because of the many ways we allow you to access your account, the posting order of individual items may differ from these general policies.  Holds on funds (described below) and the order in which transactions are posted may impact the total amount of NSF Fees or Return Item Fees assessed.
  • Although under payment system rules, Hershey FCU may be obligated to pay some unauthorized debit card transactions, Hershey FCU will not authorize debit card or ATM transactions unless there are available funds (including Overdraft Coverage Options) to cover the transactions and any fee(s)
  • We generally post items in the following order: 1) credits before debits 2) ATM and debit card transactions (in the order received), 3) ACH (in order received, credits first), 4) checks (low to high dollar amount); however, exceptions will occur. Holds on funds (described below) and the order in which transactions are posted may impact the total amount of NSF Fees or Return Item Fees assessed.
  • Although under payment system rules, Hershey FCU may be obligated to pay some unauthorized debit card transactions, Hershey FCU will not authorize debit card or ATM transactions unless there are available funds (including Overdraft Coverage Options) to cover the transactions and any fee(s).
  • Giving us your consent to pay every day debit card and ATM overdrafts may result in you incurring NSF Fees for transactions that we would otherwise be required to pay without assessing an NSF Fee. However, this would allow us to authorize transactions up to the amount of your Overdraft Privilege limit and may also help you avoid overdrafts in excess of your available funds that could result in restriction of your debit card. 
  • Hershey FCU authorizes and pays transactions using the available balance in your account. Hershey FCU may place a hold on deposited funds in accordance with our Deposit Account Agreement and Disclosure, which will reduce the amount in your available balance.  The available balance for checks, ACH items, and recurring debit card transactions is comprised of the ledger balance, less any holds on deposited funds and any debit card holds, plus the amount of the Overdraft Privilege limit and any available overdraft protection. The available balance for ATM and everyday debit card transactions on accounts with Standard Coverage is the ledger balance, less any holds on deposited funds and any debit card holds, plus any available overdraft protection, but does NOT include the Overdraft Privilege Limit. For accounts with Extended Coverage, the Overdraft Privilege Limit is included in the available balance for authorizing ATM and everyday debit card transactions.
  • Please be aware that the Overdraft Privilege amount is not included in your available balance provided through online banking, mobile banking, or Hershey FCU’s ATM.
  • Hershey FCU will place a hold on your account for any authorized debit card transaction until the transaction settles (usually within two business days) or as permitted by payment system rules.  In some cases, the hold may exceed the amount of the transaction.  When the hold ends the funds will be added to the available balance in your account.  If your account is overdrawn after the held funds are added to the available balance and the transaction is posted to the available balance, an NSF Fee may be assessed.
  • Except as described in this letter, Hershey FCU will not pay items if your account does not contain available funds (including the Overdraft Privilege limit) to cover the item(s) and the amount of any fee(s).
  • We may restrict your debit card use if you incur overdrafts in excess of the available funds in your account, including any Overdraft Privilege limit.
  • Overdraft Privilege is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice.
  • Overdraft Privilege may be discontinued if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within thirty-two (32) days for a minimum of one business day.
  • Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the Deposit Account Agreement and Disclosure. The total (negative) balance, including all fees and charges, is due and payable upon demand.

If you have any questions about Overdraft Protection or Overdraft Privilege, please call us at (717) 533-9174 or visit a branch.

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HFCU is federally insured by the National Credit Union Administration. HFCU is an Equal Opportunity and Housing Lender.

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