Overdraft Protection

Overdraft Privilege (O.D.P.)

A discretionary service offered as a benefit to our checking account customers.

If you’ve ever had a check returned because of a miscalculated balance in your checking account, you know that it can be a costly and embarrassing mistake. Family Federal Savings’ Overdraft Privilege can help you avoid this situation. ODP allows us to pay items on your checking account, up to a pre-set limit, that overdraw your account balance instead of returning the item. The best part is that if you never use this privilege, you never have to pay for it. So, it is there for those “just in case” situations.

Savings Transfer Overdraft Protection (S.T.O.P.)

If you already have a Family Federal statement savings account, STOP may be a less costly alternative to help you avoid returned items on your checking account. STOP authorizes us to transfer funds from your savings account to your checking account to cover items that would otherwise overdraw your checking account balance. On any day that a STOP transfer is needed, you are only charged one small fee to transfer funds to cover your checking account balance for that day. Similar to our Overdraft Privilege, the best part about STOP is that you only pay when you use it.

Overdraft Privilege Disclosure

  • The fee for the payment of each overdraft is $30/per overdraft
  • A fee may be imposed for covering overdrafts created by check, in-person withdrawal, ATM withdrawal or other electronic means
  • Overdrafts must be repaid within 10 days

Overdraft Privilege is a discretionary service offered as a benefit to our checking account customers. We typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts.