Overdraft Advance

Money when you need it

Running a little low on funds in your Carpenters checking account? Don’t worry we’ve got you covered. Overdraft Advance will avoid insufficient checking balances and prevent your checks from being returned due to non-sufficient funds (NSF). While we don’t encourage overdrafts, we want to save you from the additional merchant fees and possible damage to your credit history. In fact, even ACH Payments, automatic payments, and debit card purchases are now covered by Overdraft Advance.

At Carpenters Credit Union, we are always looking to find new and better ways to serve you, our member. We will begin providing you with a special program called “Overdraft Advance” for members ages 18 years and older with a personal share draft account open for at least 30 days. Some restrictions may apply. Overdraft Advance provides protection in the event that you overdraw your account up to a $500.00 limit. By paying your overdraft in this way, you will eliminate the extra expenses. View the discourse agreement. Talk to a Member Service Representatives if you have any questions.

* Your checking account has two types of balances: the “actual” balance and the “available” balance. Your actual balance is the amount of money that is actually in your account at any given time. It reflects transactions that have “posted” to your account, but not transactions that have been authorized and are pending. Your available balance is the amount of money in your account that is available to you to use without incurring an overdraft fee. The available balance takes into account things like holds placed on deposits and pending transactions (such as pending debit card purchases) that the Credit Union has authorized but that have not yet posted to your account. Available balance is used to determine when your account is overdrawn.

** Limits apply based on type of checking accounts. Whether your overdraft will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing. To find out if your account is in good standing, please contact your local branch. There is a fee associated with each item covered by Overdraft Advance.