JSC FCU offers two types of overdraft protection: overdraft protection from a savings account linked to the checking account and overdraft protection from a line of credit linked to a checking account.
Overdraft protection from a linked savings account:
JSC FCU offers the option to have money pulled from a savings account to cover transactions when there are not sufficient funds in your checking account. This service is free to have on your account (there is no monthly service fee or a start-up fee) but there is a $2 fee for each time the service needs to be used (each time the system has to pull funds from your savings to cover a transaction in your checking.) There is no limit on the number of times the system can pull from the savings account to cover checking account transactions. The savings account must be an account listed under the same member number as the checking account it is covering. Savings accounts that you are joint on but are listed under a different member number do not qualify to be used for this service.
Overdraft protection from a line of credit account:
This overdraft protection is free to have and free to use. There are no fees associated with this overdraft protection but the funds are being pulled from a loan. The Line of Credit is a loan and does have an interest rate so any funds used to pay for overdraft protection, there will be interest paid on these funds. In order to qualify for this loan, you will need to apply for the loan and receive an interest rate based on your credit score and income. There is not a limit on the number of times funds can be pulled. The loan limit is the max allowed to be pulled for overdraft protection, please inquire with a representative for the loan amount you would qualify for. If the line of credit loan is delinquent at any time, the system will not pull funds for overdraft protection and will instead go straight to the secondary form of overdraft protection or decline to pay the transaction.