ElecTel Cooperative FCU offers overdraft protection to protect you from costly mistakes such as mathematical errors when balancing your account or failing to record a check or ATM withdrawal. Why you should have it:

  • Provides peace of mind. Your overdraft protection will transfer funds when needed.
  • Saves you money. Why pay returned check charges, which could be as much as $40, when available?
  • Serves as a ‘backup.’ Mistakes happen all the time. Overdraft protection makes sure your mistakes are protected.
  • Immediate action. Funds are transferred immediately to cover your check. In addition, we mail a notice the following business day after the check is ‘covered,’ detailing exactly what check was paid, the amount and how the overdraft was affected.
  • Many different options. Use a line-of-credit loan, a savings account, or a combination of both. We strongly endorse using a line-of-credit as your primary means of overdraft protection due to Federal Reserve restrictions on savings account transfers.

Add it today! Apply online today, or call our loan department at 1-800-849-5600.