Overdraft Protection

We know that mistakes happen. Once in a while there are not enough funds in a checking account to cover all the debits. We offer multiple options for you to handle these situations and prevent problems. Freedom’s overdraft options will:

  • Protect you from incurring late payment charges.
  • Shield you from returned item fees.
  • Help protect your credit score from the negative effects of late payments.

Transfer from Share Savings Account to Cover Overdrafts
Use your savings account to prevent overdrafts by having funds automatically transferred from your linked savings account, to your checking account. Fees may apply. See Service Charge Listing for details.

Overdraft Line-of-Credit
Get approved for a Freedom line-of-credit, which can also act as a defense to protect you from overdrafts. Funds will be automatically transferred from your line-of-credit to your checking account when the account is overdrawn. See Service Charge Listing for details on applicable fees.

Overdraft Protection by Opting-In to Coverage
Think of overdraft protection as a safety net. If you do not have enough funds in your savings account, or an approved line-of-credit is not established, Freedom may elect to pay your overdrafts. Members have to opt in to authorize Freedom to cover overdrafts on ATM and everyday debit card transactions. Overdraft Opt-In Form.

How it works:

  • At Freedom’s discretion, we may pay an item when you do not have enough money in your checking account, which would take the account into a negative balance.
  • Your account is charged a $35 fee per overdraft occurrence.

To set up this option, complete the Overdraft Opt-In Form.

You’re in control. It’s your choice to have transactions denied, or set up any of the above mentioned overdraft protection options. To discuss your overdraft protection options: request a line-of-credit, set up an automated transfer from your savings account, or Opt-In to Overdraft Coverage service, visit any Freedom location, or call 800-440-4120.

You can avoid overdrafts by:

  • Keeping track of your deposits, purchases, and ATM withdrawals.
  • Balancing your account monthly by reviewing your statement or account transactions online.
  • Monitoring your account regularly online to review transaction activity and balances.
  • Setting up customized email and/or text alerts via online and mobile banking to notify you of specific transactions and low balances.

See Service Charge Listing for all applicable fees.

Questions About Your Overdraft Options? Call Us!