IMPORTANT NOTICE

Effective July 1, 2010

New “Opt-in” Overdraft Protection Rules Impact Everyone

Take Action Now To Avoid Losing Coverage

If you wish to keep your overdraft coverage options on your checking account, you MUST complete the “Overdraft Plus” Coverage Notice form and submit it to BFCU.

BFCU will not authorize and pay your overdrafts for any ATM transactions and/or one-time Debit Card transactions unless you opt-in for “Overdraft Plus” coverage. 

Your Right to Request “Overdraft Plus”: The federal government issued changes to Regulation E affecting overdraft protection for ATM and one-time debit card purchases effective July 1, 2010. It is now necessary that you opt-in or opt-out of the payment of everyday point-of-sale transactions in cases where such payment will result in your account being overdrawn.

If you wish to continue authorizing the credit union to pay such transactions after July 1, 2010, you must opt-in. If you do not opt-in the credit union will deny point-of-sale transactions if you do not have sufficient funds to cover them.  We will not pay your overdrafts for ATM withdrawals and debit card purchases you make at a store, online, or by telephone, unless you tell us you want “Overdraft Plus” for these transactions. Your coverage will change if you don’t respond, opt-in now. Unless you act, your current overdraft coverage on everyday ATM withdrawals and debit card purchases will end August 15, 2010.

Click here for more information and “Frequently Asked Questions” about BFCU’s Overdraft Privilege/Overdraft Plus services.

Other Ways We Can Cover Your Overdrafts: BFCU offers other ways of covering your overdrafts that may be less expensive, such as linking your account to another account at BFCU or a line-of-credit loan. Contact us at (830)774-2328 to learn more about these options.