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Overdraft Privilege

Because honest mistakes happen for time to time, Overdraft Privilege provides a cushion to cover the unexpected.  Perhaps you need to write a check in an emergency, or you authorize a debit transaction without sufficient funds to cover it.  We realize these circumstances can happen to anyone.  Overdraft Privilege may cover these items caused by the checks you write, ACH and/or Automatic preauthorized debits you establish to be withdrawn from your checking account, and recurring debit card transactions.  For example, insurance premiums, utility bills, mortgage payment, etc.

How does ODP work?

ODP is activated after other methods of overdraft protection – such as transferring funds from your savings account- have been exhausted.  Rather than returning these items unpaid, Dort Federal has the discretion to cover your overdrafts up to a $500 Overdraft Privilege limit as outlined in the Discretionary Overdraft Privilege section of our Terms and Conditions disclosure.

ODP is offered as a feature that allows your checks and automated debit transactions to be paid up to the $500 limit when circumstances occur where you may have insufficient funds in your Dort Federal checking account.  ODP is not a contractual agreement.  We do not guarantee that we will always authorize and pay any type of transaction.

There is no monthly fee for ODP.  You pay for it only when you use it.  If we pay an overdraft item on your behalf, your account will be charged the same fee for checks that would otherwise be returned for insufficient funds, currently $25.00 per item.  However, with ODP, the item would be paid rather than returned unpaid saving you the inconvenience and embarrassment of dealing with an NSF item.  Please be aware the $25.00 fee will apply to each item and debit transaction that results in a negative balance entry in your account.  Also, Dort Federal does not authorize and pay overdrafts for ATM and one-time debit card transactions unless you have opted-in and authorized us to provide this service.  To opt in for ATM and one-time debit card transactions, you may complete and submit the Overdraft Privilege Opt-In form located in the Secure Forms tab after logging into Online Banking or visit one of our convenient branch offices to complete the form.

ODP is not a right or obligation but may be offered to members at the credit union’s sole discretion and may be withdrawn at any time.  Should you have questions regarding Overdraft Privilege or if you decide you may not wish to have this service, you may “opt-out” by contacting us at (810) 767-8390; toll free at (800) 521-3796; via email at feedback@dortfcu.org or by visiting any of our convenient branch locations.


Frequently Asked Questions

Q: If I don’t have Overdraft Privilege, how can I get it?

A: New checking accounts are reviewed for eligibility 90 days after account opening.  Members who become eligible are notified by mail. Existing checking account holders who do not qualify at 90 days after account opening, may contact the credit union and request consideration for Overdraft Privilege at any time.

Q: I thought you would just transfer funds from the Primary Shares/Savings Account and charge a $2.00 Overdraft Transfer fee. What is this about a $25 fee?

A: Dort Federal has always provided Overdraft PROTECTION on your checking account. Our first attempt to process your transaction is always to check the availability of Overdraft Protection. This means that IF you have adequate funds available in your SAVINGS account, we will automatically transfer the funds from savings to checking to cover your check or automatic debit transaction for a $2 overdraft transfer fee. Under the Overdraft Protection program, Regulation D limits the number of electronic transfers from savings accounts for covering these items to six per month.

If you do not have enough available funds in your savings account, Overdraft PRIVILEGE may cover the debit (up to a total of $500) and you will be charged a $25 Overdraft Privilege fee.

Q: Since Overdraft Privilege is offered at Dort’s discretion, in what circumstances would you NOT pay an item for me?

A: For share drafts (checks) and ACH debit transactions, Dort Federal may authorize Overdraft Privilege coverage up to a $500 cumulative limit. The $500 cumulative limit also includes any fees incurred for overdrafts. For example, if you have a $0 balance in your checking account and we cover a check for $475, your account balance will be overdrawn by $500. This includes $475 to pay the check plus the $25 Overdraft Privilege fee.  In a case where paying the item would result in an overdraft that exceeds the $500 limit, the item would be returned unpaid and a $25 NSF fee would be charged.

Q: I understand Overdraft Privilege is for checks and electronic debits, but what if I also want it for ATM and debit card purchases?

A: Dort Federal does not authorize and pay overdrafts for ATM and one-time debit card transactions unless you specifically opt-in and authorize us to provide this service.  To opt in for ATM and one-time debit card transactions, you may complete and submit the Overdraft Privilege Opt-In form located in the Secure Forms tab after logging into Online Banking or visit one of our convenient branch offices to complete the form.

Q: What will happen if I do not opt-in for ATM and one-time debit card transactions?  Will I be charged a fee if I overdraft my account?

A: You will not be charged an overdraft fee for ATM and one-time debit card transactions if you have not specifically opted into Overdraft Privilege for these types of transactions.  If you have not opted in and your account is overdrawn, you will be unable to use your card until your account has available funds on deposit to cover future transactions, or pending deposits are available.

Overdraft Disclosure