What do I need to know about overdrafts and overdraft fees?

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 comes with your account.


  2. We also offer overdraft protection plans, such as a link to a savings account, 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 that come with my account?

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

  1. Checks and other transactions made using your checking account number


  2. Automatic bill payments
We do not authorize and pay overdrafts for everyday debit card transactions unless you ask us to. We never allow overdrafts for ATM 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 Anoka Hennepin Credit Union pays my overdraft?

Under our standard overdraft practices:

  1. We will charge you a set fee of $30 each time we pay an overdraft.


  2. There is no limit on the total fees we can charge you for overdrawing your account.
Our current overdraft policies will apply until these changes go into effect on August 15, 2010.


To specify your overdraft preferences for everyday debit card transactions: