Banner Federal Credit Union’s Overdraft AdvanceSMis a service offered to our members on their personal checking account. Banner Federal Credit Union may honor overdrafts of individual checking accounts subject to certain conditions and limitations as set forth in this disclosure. Banner Federal Credit Union may subtract an overdraft fee of ($25.00) for each overdraft honored upon presentment.
This program will be offered to members who are 18 years or older and who have had a checking account established with the credit union for 60 days or more. Overdraft AdvanceSM provides a cushion that will permit you to overdraw your checking account up to $500.00. By paying your overdraft in this way, you will eliminate the extra expense and potential embarrassment of having a check returned for non-sufficient funds. Overdraft AdvanceSM is an agreement that requires no action on your part. You do not have to sign any agreement or other paperwork. Your current overdraft protection arrangements will remain in place exactly as they are now. Overdraft AdvanceSM services will only be activated if there are insufficient funds available from your other accounts. This coverage will be extended to you as long as your account remains in good standing. Most transactions (such as checks, and on-line bill pay payments) that overdraw your personal checking account will be covered up to the $500 limit. We will apply an overdraft fee of $25 for each insufficient funds item that we honor and will notify you each time your Overdraft AdvanceSM service is activated. Once yourOverdraft AdvanceSM service has been activated, it is your responsibility to correct any balance deficiency as quickly as possible. Banner Federal Credit Union requires you to make a deposit covering your overdraft and fees within 30 days. Some restrictions apply
