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Overdraft Privilege/Courtesy Pay

What Is Overdraft Privilege?

Overdraft Privilege is a new service that adds a measure of protection to your personal checking account. Overdraft Privilege may cover your insufficient funds checks, up to your approved limit, for one low fee per covered overdraft transaction. That means, instead of returning a check to the merchant because of insufficient funds, Rockland Employees Federal Credit Union (REFCU) may pay your check, saving you additional charges from the merchant collection companies, in addition to REFCU's insufficient funds fee. It saves you the embarrassment an inadvertent overdraft can cause. It also helps protect your credit rating.

How Does Overdraft Privilege Work?

Overdrafts on your checking account, up to a maximum limit of $400 [including the amount of the overdrawn item(s) and the Overdraft Privilege fee(s)] may be honored by REFCU. A $20 fee will be assessed for each item that draws your account negative. You then have up to 30 days to bring the account current, either through a direct deposit, transfer of funds, or a deposit at one our branch offices.

What If I Already Have Overdraft Protection?

If you have established other overdraft protection through a Share (Savings) account and/or a Line of Credit, we will always look to pay any overdraft through your line before utilizing Overdraft Privilege and imposing a $20 fee for each overdraft we pay.

Do I Have To Apply For This Service?

No. We require no application or additional signatures. As long as you are a member in good standing, which includes:

  • Having an account with us for at least 90 days
  • Your account must have a positive balance for 24 hours within every thirty (30) day period
  • Not being in default on any loan or other obligation to REFCU and
  • Not being subject to any legal or administrative order or levy

How Can I Access Overdraft Privilege?

Overdrafts may be paid utilizing Overdraft Privilege funds up to the limits mentioned above for the following types of transactions:

  • Checks
  • Electronic Transactions
  • Bill Pay
  • ATM Withdrawals (with opt in)


We strongly recommend that you first perform a balance inquiry before making an ATM withdrawal. Should you request a withdrawal that draws your account into the negative, the ATM may honor that request by drawing on your Overdraft Privilege limit and/or any other overdraft protection you may have with REFCU. The ATM receipt will show the amount withdrawn. It may not indicate your withdrawal has taken your account negative or accessed Overdraft Privilege and/or other overdraft protection funds, or charged a fee.

Call Us For More Information

We are happy to review Overdraft Privilege and its features with you, along with giving you other options to add convenience and ease to your account. Please call us at (845) 371-5804 or 1-877-922-2822.