Summit Credit Union of NC – Overdrafts
All branch offices will be closed Wednesday, July 4 in observance of Independence Day.

Overdrafts

Who hasn't made an error of addition or subtraction in their checkbook? Sometimes overdrafts happen! But when they do, we've "got your back."

Overdraft Transfer

Use Your Money or a Loan to Cover Overdrafts

  • Available to all Free Checking account holders
  • Offers free, unlimited transfers from
    • Any of your savings accounts (excluding IRAs)
      • Savings accounts transfer in $100 increments
      • Money Market and Money Market Investor accounts transfer in $500 increments               
    • Any open line of credit loan in $100 increments
      • VISA® Credit Card
      • Signature Line of Credit
      • Home Equity Line of Credit

Call or come into one of our branches to add this service for your account.

Overdraft Privilege

We Cover Your Overdrafts When You Don't Have Funds Available

  • Generally available on one checking account per member
    • You must opt-in to overdraft privilege at the opening of your checking account
    • The checking account must be open for at least 60 days and all accounts must be in good standing
  • Non-Sufficient Funds (NSF) fee is charged for each item that overdrafts your account
  • Overdraft Privilege covers overdrafts that do not take your account negative by more than $400, inclusive of NSF fees
    • Only available for checks sent through the Federal Reserve and automatic (ACH) transfers setup for your checking account
    • Does not pay for Debit Card transactions, checks presented at one of our branches, or in-person withdrawals
    • The $400 is inclusive of all NSF fees
  • Your account must be brought to a positive balance within 30 days, otherwise future use of Overdraft Privilege will be suspended
  • Payment of overdrafts remain discretionary and Summit reserves the right not to pay
  • All requirements for maintaining your Overdraft Privilege are spelled out in the Overdraft Privilege Disclosure
  • You can choose not to participate in this service by completing the Opt-Out Form

Checkbook Maintenance Can Help You Avoid Overdraft Fees

We offer a self-guided course of checking account basics made available through our partnership with BALANCE Financial Fitness

If you have questions, just call or stop by your local branch.