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 your primary savings 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 Centricity Credit Union pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $30 each time we pay an overdraft if your account is overdrawn more than $5
  • We will not charge you a fee if your account is overdrawn by $5 or less on any given day 
  • There is no limit per day on the total fees we can charge you for overdrawing your account

What if I want Centricity Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, complete the form below and click submit, call (218) 729-7733, email us at courtesypay@centricity.org, send a secure message through online banking, or provide your consent in person at any branch. 

You can revoke your authorization for Centricity Credit Union to pay these overdrafts at any time by any of the above methods, revisiting our website at www.centricity.org, or mailing a revocation of consent to 4477 Lavaque Road, Hermantown, MN 55811. Your revocation must include both your name and the last 4 digits of your account number so that we can properly identify your account.