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General Member Account Information

• Eligibility & documents required to open a CCU Membership Checklist (PDF)

Sometimes things don’t go as planned, and that can mean not having enough funds in your checking account to cover a retail transaction. To help members avoid this occasional problem, Colorado Credit Union offers Overdraft Privilege. This value-added service allows you to overdraw your account up to a preset limit when an account has insufficient funds to cover a transaction. Please note, you must “opt-in” for this feature and you always have the option of having funds transferred directly from your savings account on an as-needed basis. Ask a Member Service Representative for more information. 

What You Need to Know about Us Paying Your Overdrafts and Our Overdraft Charges

An overdraft occurs when the available balance of funds in the account you have with us is inadequate to cover a check or electronic transaction (such as with your debit card or through an ATM), but we elect to pay it anyway.

We can cover your overdrafts in two different ways:

1. We have standard overdraft practices that come with the account. They are covered in Provision 6.I. of the MSA Part 2 and this disclosure.
2. We also offer an overdraft protection service that draws funds from a savings or loan account you have with us, which may be less expensive than our standard overdraft practices. To learn more, ask us about these services or our overdraft plans or read about them in Provision 6.1. of the MSA Part 2.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with the account?

We do authorize and pay overdrafts for the following types of transactions:

• Checks and other transactions made using the checking account number
• Automatic bill payments

We do 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 service charges will be imposed if you pay my overdrafts)?

While there is no charge to authorize us to pay your overdrafts, under our standard overdraft practices:

• We will impose a service charge of up to $29.00 each time we pay an overdraft.
• Also, if your account is overdrawn for five (5) or more consecutive business days, we will charge an additional $5.00 per day.
• There is no limit on the total service charges we can impose on you for overdrawing the account (though generally they will be imposed for each overdraft transaction we pay on the account).

To authorize and pay overdrafts on your ATM and everyday debit card transactions

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call 303.978.2274 or toll-free 800.828.2274, or complete this form and present it at a branch or mail it to: Colorado Credit Union, PO Box 270010, Littleton, CO 80127.