What You Need to Know about Overdrafts and Overdraft Fees

An overdraft occurs when you do not have sufficient available funds in your account to cover a transaction, but Frontwave Credit Union (Frontwave, we) pays it anyway. We can cover your overdrafts in two different ways:

1. We have standard overdraft practices (Courtesy Pay) that come with your account.
2. We also offer overdraft protection plans, such as a transfer from a savings account or link to a line of credit or Visa Credit Card, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.

This notice explains our standard overdraft practices.

What are the standard overdraft practices (Courtesy Pay) 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
• ACH

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

• ATM transactions
• Everyday debit card transactions

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 Frontwave pays my overdraft?

Under our standard overdraft practices (Courtesy Pay):

• We will charge you a Courtesy Pay Fee of $20 each time you overdraft your account.
• We do not charge more than five (5) Courtesy Pay fees within the same calendar day.
• We do not charge a Courtesy Pay fee until the account is negative more than $20.00.

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

If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, log in to Online Banking and select “I agree” in the Courtesy Pay pop-up, visit a branch or call us at 1.800.736.4500.

Can I revoke my consent?

You have the right to revoke your consent to participate in our overdraft services at any time. To revoke your consent, you may contact us by phone, mail, or in person at any of our branch locations. Upon revocation, you will no longer be enrolled in the overdraft service, and any future transactions that would result in an overdraft will be declined.