Main Phone: 614-221-9376   |   Toll Free: 1-866-628-6446   |   Routing Number: 244077271 x

Overdraft Coverage Options

Life happens! Education First Credit Union understands that unexpected overdrafts occur from time to time – Overdraft Coverage Can Help!

Overdraft Coverage Options:

  • Overdraft Protection – Links to another deposit account you have at Education First Credit Union (no charge, some restrictions may apply).
  • Overdraft Protection Loan – Minimum Loan amount of $500 / 18% Annual Percentage Rate. Finance charges will apply and loan is subject to credit approval.
  • Overdraft Privilege – Overdraft Privilege allows you to overdraw your account up to the disclosed limit for a fee in order to pay a transaction. The account must be in good standing, and payment of items is discretionary. $33.00 Overdraft Fee per Item.

Overdraft Protection and Overdraft Protection Loan applies to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account or line of credit (finance charges will apply and loan is subject to credit approval) you may have at Education First Credit Union.

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 and/or an Overdraft Protection Loan, Overdraft Privilege is still available as an additional coverage if the Protection sources are exhausted.

With Overdraft Privilege you have two options: Standard Coverage and Extended Coverage.

Transactions Covered With Overdraft Privilege

Standard Coverage (No Action Is Required)

Extended Coverage (Your Consent Required)

Checks

X

X

ACH – Automatic Debits

X

X

Recurring Debit Card Payments

X

X

Online Bill Payment 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, ATM Withdrawals and Everyday Debit Card Transactions will be included with the transactions listed under Standard Coverage.

What if I want Education First Credit Union to pay overdrafts caused by ATM and everyday debit card transactions (Extended Coverage)?

  • Call Us At 614-221-9376
  • Log In To Home Banking and choose “Services” and simply follow the prompts!
  • Visit One of Our Offices
  • Send us an email at: odp@educu.org

For Frequently Asked Questions (FAQs) Click Here

You can discontinue the Overdraft Privilege in its entirety by contacting us at 614-221-9376 or sending us an email at odp@educu.org

For Additional Information and Resources Click on the Following Links:
Steps for Balancing Your Check Book
Creating a Budget
Debt Reduction Strategies
Strategies for Saving
Money Management References
Steps to Better Money Management
Consumer Financial Protection Bureau

©2017 Education First Credit Union -Serving the Education Community since 1936