What you need to know about Overdrafts and Overdraft fees
An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. Merrimack Valley Credit Union and Bridgewater Credit Union, a division of Merrimack Valley Credit Union, can cover your overdrafts in two different ways:
- We have standard overdraft practices that come with your account.
- We also offer overdraft protection plans, such as a link to another account or line of credit, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.
What are the standard overdraft practices that come with my account?
We authorize and pay overdrafts for the following types of transactions:
- Checks and other transactions made using your checking account number
- Automatic bill payments
We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):
- ATM Transactions
- Everyday DEBIT card transactions
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 MVCU or BCU pays my overdraft?
Under our standard overdraft practices:
- We will charge you a fee of up to $30 each time we pay an overdraft. For members under 19 or 65 years of age or older, the fee for all transaction types is $5.
- There is a limit of 6 (six) fees per day that we can charge you for overdrawing your account.
What if I want MVCU and BCU to authorize and pay overdrafts on my ATM and everyday DEBIT card transactions?
If you want MVCU and BCU to authorize and pay overdrafts on ATM and everyday DEBIT card transactions, fill out and submit the form below, visit any branch location, or call our Member Service Center at 1-800-356-0067.
What if I want to stop MVCU and BCU from authorizing and paying overdrafts on ATM and everyday DEBIT card transactions?
You can revoke your authorization for MVCU and BCU to pay these overdrafts at any time by any of the above methods.
View & Print:
Discretionary Overdraft Privilege Policy
Enrollment is currently available to former MVCU members only. We will let former RTN members know when this service is available to them.