** Information on Overdrafts and Overdraft Fees **

Opt-In Form 

An overdraft occurs when your account does not have enough money to process a transaction. We offer two different ways to cover your overdrafts:

1. Our standard overdraft practice transfers funds from your share account for a $5.00 fee.
2. We also offer an overdraft protection plan, entitled Member Privilege.

If you would like more information on the above plans, please contact us for more information.

This notice explains our standard overdraft practices.

It is our standard overdraft practice to pay checks and automatic bill payment overdrafts made using your checking account number.

As of August 15, 2010, we are no longer allowed to pay overdrafts on your ATM and everyday debit card transactions unless you ask us (see below). If you do not ask us, the transaction will not be paid. There is no fee if we decline ATM and debit card transactions. We may continue to pay overdrafts on your checks and automatic bill payments and impose a fee.

Overdrafts are paid at our discretion. Payment of an overdraft is not guaranteed. If you do not authorize us to pay an overdraft, your transaction will be declined and the item returned unpaid.

We charge a $25.00 fee each time we pay an overdraft through our Member Privilege service.

There is no limit on the total fees we can charge you for overdrawing your account. We can close your account if you have excessive overdrafts.

Please complete this form to authorize Midcoast Federal Credit Union to pay your overdrafts on ATM and debit card transactions. Once complete, please mail it to us at P.O. Box 780, Bath, ME 04530, or bring it to any branch location for processing.

You may also Opt-In by contacting us toll free at 1-877-964-3262. 

We will send you a confirmation of your authorization. You may revoke this consent at any time.

I want Midcoast Federal Credit Union to authorize and pay overdrafts on my share draft (checking) and share (savings) account(s) for ATM and everyday debit card transactions for the account(s) listed below.

Signature: ____________________________________

Printed Name: _________________________________

Date: ____________

Address: _________________________________________

Account Number _____________________ - _______

Account Number _____________________ - _______

Account Number _____________________ - _______

Account Number _____________________ - _______