Skip Navigation Documents in Portable Document Format (PDF) require Adobe Acrobat Reader 5.0 or higher to view,download Adobe® Acrobat Reader.
Clarion Federal Credit Union

OverDraft Protection

Clarion Federal Credit Union's Overdraft Protection Services

Sometimes, no matter how careful you are with your money, the unexpected can happen.  At Clarion Federal Credit Union we understand that when the unexpected occurs, you may not have funds available in your account at the time you need them.  We have an Overdraft Protection program designed to give you peace of mind in those situations.

An overdraft occurs when you spend funds from your checking account for an amount that exceeds your available account balance.  Overdraft protection allows these transactions to be paid even though the balance is not sufficient to cover it.  Clarion Federal Credit Union pays overdrafts at its discretion, and fees may apply to any overdraft transactions according to the overdraft service in place for your account.*

Clarion Federal Credit Union offers two types of overdraft services:  standard (included in basic account services for many of our checking accounts – contact us for details) and a voluntary Overdraft Protection Plan (linking a savings account or line of credit to your checking account). 

Standard overdraft protection becomes available on your account 30 days after account opening if the deposit threshold is met and the account is in good standing.**   With our Overdraft Protection Plan, you may link your checking account to a savings account or an overdraft line of credit.  Funds from linked accounts will be automatically transferred to your checking account to cover any overdraft transactions and may be less expensive than our standard overdraft practices.*** Contact us to learn more about how our Overdraft Protection Plan may benefit you.

*Refer to “Frequently Asked Questions” for more details on standard overdraft protection fee and practices.

**You may opt out of standard overdraft coverage at any time.  Standard overdraft protection may be revoked as a result of account standing at Clarion Federal Credit Union’s discretion.

***Contact us for specific information regarding Overdraft Protection Plan fees and practices.

Frequently Asked Questions:

What are the standard overdraft practices that come with my account?

Clarion Federal Credit Union authorizes and pays 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 opt in to this service:

  • 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 Clarion Federal Credit Union pays my overdraft?

Under our standard overdraft practices:

  • We will charge you a fee of up to $35 each time we pay an overdraft.
  • There is a limit of $210 per day on the total fees we can charge you for overdrawing your account.

What if I want Clarion Federal 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, call (276) 778-0975, Option 3, or stop by one of our branch locations to complete an "Opt In" or "Opt Out" form.

wrench and screw driver icon

Home Equity Loans

The right tool to get the job done.

first sentinel bank logo

Clarion Federal Credit Union

Community. Stability. Family. Your community bank serving families since 1978