Overdraft Protection Options

With Overdraft Privilege VSECU pays and covers items that overdraw your credit union checking account. Qualifying members are automatically covered by this service and can choose to opt out of the program anytime.

Overdraft Privilege helps:

  • Avoid “bounced” checks being returned unpaid.
  • Avoid other merchant fees for returned checks.
  • Ensure your transactions are paid if you’ve made an error.

If you would like everyday Point-of-Sale (POS) debit card transactions to be covered, an authorization is required by submitting a consent form or calling us at 802/800 371-5162.

This is a privilege service not to be abused or relied on as an everyday or convenient way to make ends meet. It is designed to cover those once in a while errors only. The standard overdraft fee will apply.

Details of VSECU’s Overdraft Privilege Service

At our discretion, each eligible member will be provided a specific Overdraft Privilege limit depending on account type. We may elect to cover your overdrafts if a debit is presented against insufficient funds in your account.

The standard overdraft fee will be applied first and then the overdraft will be covered and payment made by VSECU.

Overdraft Privilege is available for:

  • Checks written.
  • Automated Clearing House (ACH) transactions.
  • Recurring debit card transactions.
  • Bill payment transactions or other electronic transactions.
  • When pre-authorized, everyday point-of-sale (POS) transactions can be covered.

Overdraft Privilege is NOT available for:

  • In-person teller transactions.
  • ATM withdrawals.
  • Transfers or balance inquiries made through an ATM, Automated Phone Access or Online Banking.
  • Without pre-authorization, everyday POS transactions will not be covered.

As long as members remain in good standing, make regular deposits into their accounts, bring their account to a positive balance as soon as possible within 30 calendar days and maintain a positive balance for one processing day, they will continue to receive Overdraft Privilege. If the account has not been brought into good standing within 30 days, VSECU reserves the right to discontinue payment on overdrafts through Overdraft Privilege.