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

  1. We have standard overdraft practices that come with your account.
  2. We also offer overdraft protection plans, such as a link to another account or a line of credit, which may be less costly than our standard overdraft practices.  To learn more, ask us about these plans.

This notice explains our standard overdraft practices.

  • 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 without your consent.

  • 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 Financial Institution pays my overdraft?

Under our extended overdraft practices (Courtesy pay program):

  • We will charge you a fee of up to $29.00 each time we pay an overdraft.
  • We will not charge you a fee if your account is overdrawn less than $5.00 on any given day
  • There is a limit of 6 fees per day with a maximum of  $174.00 per day on the total fees we can charge you for overdrawing your account
  • What if I want Financial Institution to authorize and pay overdrafts on my ATM and everyday debit card transactions (Extended Coverage)?

If you want us to authorize and pay overdrafts for which an Overdraft fee will be assessed on ATM and everyday debit card transactions, call 1-800-569-4167, visit us at www.superiorchoice.com, complete the form below and present it at a branch or mail it to: Superior Choice Credit Union  PO Box 127, Superior, WI 54880.  You can revoke your authorization for SCCU  to pay these overdrafts at any time by any of the above methods.  Your revocation must include both your name and your account number so that we can properly identify your account.