The Credit Union Overdraft Loan Is A Money-Saver For Members!!

Trust us on this one -- being safe is much better than paying overdraft fees. No one ever plans on having an overdraft, but we all need a cushion sometimes. The line of credit overdraft loan stands idle if not activated by the system. When a check is presented for payment, the loan is activated and funds are advanced into your share draft account. Thus, the check is paid. So if there is no loan balance, there is no payment due, no interest accrues, and there is no cost -  why not!!

You can also use your overdraft line of credit to cover you in emergency situations. When you have this coverage, it is OK to go ahead and write a check to buy a new tire, or pay the plumber, etc. And the interest rate is much more affordable than store cards with rates as high as 21%.

Call the loan officers at 423-224-2446 or 423-229-9363 to inquire further about overdraft coverage. The total cost of one returned check in today’s society is approximately $75.00, so why not have this loan on file and cover your share draft account!!

Courtesy Pay

Courtesy pay allows the credit union to pay an item presented for payment against your share draft account, even if it causes the account to become overdrawn. Courtesy Pay works by allowing a qualifying member, who has no other established overdraft plan, to have a negative balance in their account. Any member in good standing with qualifying deposits in the previous month may have a negative balance of up to $500.00 in their account. When the account goes negative, the member has 15 days in which to bring the account current. A $35.00 fee will be assesed for each item that draws your account negative. Please call the credit union for more details on this program.