Overdraft Protection Options  

broken piggy bank

Mistakes happen and the unexpected will arise! A simple miscalculation or unplanned expenses can really tighten your monthly budget. It’s easy to get off track.

Check out these tips to keep you on the right financial path!

• Keep a check register.
• Don’t forget to track Debit card transactions in check register
• Remember to keep track of joint member transactions, if applicable.
• Use CPM Anytime to check balances frequently for automatic drafts clearing.
• Take CheckRight checking account management module that is free through cpmfed.com
• Budget your money. Need help? Call Accel for free financial counseling. (800.33ACCEL)

Still have an OOPS! Not to worry, CPM Federal Credit Union has several options to keep you covered!

CPM has the following options available:

Standard Overdraft Privilege1
May be automatically granted to checking account holders 60 days after their account is opened. Standard Overdraft Privilege can be used to cover you when you do not have a sufficient available balance to cover your checks, individually authorized and recurring ACH transactions, internet banking and telephone transfers, POP money transfers, and online bill payments.

Overdraft Privilege Plus2 
An optional additional protection may be added to your checking account at any time provided you have Standard Overdraft Privilege in place. Overdraft Privilege Plus can be used to cover all of the Standard Overdraft Privilege transactions plus your ATM and debit card transactions.

Overdraft Protection Transfer3
If you have other transaction accounts with CPM Federal Credit Union, you can authorize us to set up an automatic transfer to move the funds needed to cover your overdraft. Visit one of our branches or call 800.255.1513 for more information or to set this up.

MyLine Anytime4 
You may qualify for a CPM line of credit to cover overdrafts. This service requires you to complete an application and approval is based on your credit worthiness. Visit one of our branches or call 800.255.1513 to find out if you qualify. 

Election Form for Overdraft Privilege

Disclosures

1 Each item covered is assessed a fee up to $34.00 per item.
2 To obtain Overdraft Privilege Plus you must complete our Election Agreement for Overdraft Protection. Each item is assessed a fee up to $34.00 per item.
3 This service has a $2.00 fee per transfer.
4 Draws on your line of credit as a loan advance and is subject to interest charges and the terms of the loan agreement. There are no fees per transfer for this service.