St. Louis Community offers three types of overdraft protection service to protect you against occasional, inadvertent overdrafts from your checking account.
Automatic withdrawal from savings. When your checking account balance isn’t enough, we can automatically withdraw funds from your savings account to pay items presented. So you incur no fees and avoid hassles.
Ready Cash. If you’d rather keep your savings untouched, you can apply for a Ready Cash Loan to bridge the gap in your checking account. It works much like a line of credit and there’s no cost to use the service – you just pay interest on the money you borrow.
Overdraft Privilege. We also offer a discretionary Overdraft Privilege service. It’s available to checking account holders when sufficient funds are not available to pay for a check, debit card payment, preauthorized debit, ATM withdrawal and other electronic transactions.
Overdraft Privilege is not a line of credit, but rather protection against occasional, inadvertent overdrafts of up to $200 on Freedom*, $400 on Bronze, $700 on Silver and $1,000 on Gold Checking accounts. There’s an $18 fee per overdraft, and you have 30 days to deposit funds and bring the account back to a positive balance. You can choose to opt out of this service by simply contacting any Member Service Representative.
*Certain restrictions apply to Freedom Checking Account Overdraft Privilege. Please see Credit Union for complete details.