Extended Courtesy Pay Overdraft Protection Program

What You Need to Know about Overdrafts and Overdraft Fees

A new Federal Law requires Clearview Federal Credit Union to receive authorization from members who want to be considered for payment of overdrafts stemming from one-time ATM and debit card transactions (e.g., everyday purchases). Otherwise, the Credit Union may not pay these overdrafts.

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in two different ways:

1. We have standard overdraft practices that come with your account.
2. We also offer overdraft protection plans, such as a link to a savings account, PowerLine or Home Equity Line of Credit for a low fee of $2 per transfer*, which may be less expensive than our standard overdraft practices.

*Our Signature Checking and Military Appreciation accounts receive free Overdraft Protection transfers.

This notice explains our standard overdraft practices.

What are the standard Courtesy Pay overdraft practices for qualified members** that come with my account?

We do authorize and pay overdrafts for the following types of transactions:

• Checks and other transactions made using your checking account number
• Automatic bill payments

**Certain restrictions apply. Please click here for a listing of restrictions.

As of January 1, 2011, we will not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

• Everyday debit card transactions
• ATM withdrawals over the amount of funds you have in your checking account

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.

What fees will I be charged if Clearview pays my overdraft?

Under our standard overdraft practices:

• We will charge you a fee of $35 each time we pay an overdraft
• There is no limit on the total fees we may charge you for overdrawing your account

What if I want Clearview to authorize and pay overdrafts on my everyday debit card transactions and ATM withdrawals?