Membership & Forms
Overdraft Protection Plans
What types of overdraft protection services does Houston Federal Credit Union offer?
We can cover your overdrafts in three different ways:
- We offer Transfer Overdraft Protection that is linked to one of your savings accounts, which is the least expensive method to cover inadvertent overdrafts. There is a $5 fee for each transfer from your savings account to cover the overdraft in your checking account. Transfer Overdraft Protection only covers overdrafts made by checks, ACH debits, and bill payments if funds are available in the pre-designated savings account at the time of the transaction. It is not limited to $750 or only to one savings account. Transfer Overdraft Protection can also be used in combination with Basic or Enhanced Courtesy Overdraft Protection. This option can be available on any or all of your HFCU checking accounts.
- We also offer Basic Courtesy Overdraft Protection that will cover only overdrafts made by checks, ACH debits, and bill payments up to a $750.00 limit (including fees). All members in good standing will be eligible for the Basic Courtesy Overdraft Protection. This service will only be available on one of your HFCU checking accounts.
- In addition, Enhanced Courtesy Overdraft Protection is offered that will cover overdrafts made by checks, ACH debits and bill payments, plus overdrafts on ATM and one-time debit card transactions. That means if you are making a purchase with your HFCU Visa CheckCard, unaware that you don’t have the full amount in your checking account, we can authorize the transaction. You’ll be able to complete your purchase and avoid an embarrassing situation of having your transaction declined. Or, if you are withdrawing cash from an ATM due to an unexpected emergency and need a little more money than you have in your account, we can authorize that transaction as well. You will have up to $750 available in overdraft protection (including fees) whether it’s for one purchase or several that add up to $750. This service will only be available on one of your HFCU checking accounts, and you must opt-in, or sign up for this service by completing the online form in the top right side of this page.
Houston Federal Credit Union offers these overdraft protection services so your checks do not bounce and your ATM and debit card transactions go through. With these services, you’ll still pay an overdraft fee to the Credit Union, but you will avoid the merchant’s returned check fee and will stay in good standing with the people you do business with. HFCU charges $30 each time an overdraft is paid on your account by either Basic or Enhanced Courtesy Overdraft Protection. We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined and a NSF (non-sufficient funds) fee may be assessed. There is no limit to the number of items presented that may incur a fee for overdrawing your account. You can opt-out of Enhanced Courtesy Overdraft Protection at any time.
How can you opt-in, or sign up for the Enhanced Courtesy Overdraft Protection?
You can easily opt-in to Houston Federal Credit Union’s Enhanced Courtesy Overdraft Protection online. Simply click the box in the upper right corner of this page, complete the required information, and then click the submit button. You can also opt-in by calling 1-866-OUR-HFCU, print the form, complete the information and fax to (281) 243-0772, mail your completed form to Houston Federal Credit Union at 16320 Kensington Dr., Sugar Land, TX 77479, or visit any HFCU office.
To opt-out of the Enhanced Courtesy Overdraft Protection, complete our secure form. You can also opt-out by calling 1-866-OUR-HFCU, print the form, complete the information and fax to (281) 243-0772, mail your completed form to Houston Federal Credit Union at 16320 Kensington Dr., Sugar Land, TX 77479, or visit any HFCU office.
For other important information, review the Important Information about HFCU’S Overdraft Protection Services.