Overdraft Privilege
Opt-In Authorization

What You Need to Know about Overdrafts and Overdraft Fees

An overdraft occurs when you do not have enough money in your checking account to cover a transaction and the Credit Union pays it anyway. Sikorsky Credit Union can cover your overdrafts in two different ways:

1. Standard overdraft protection services, which automatically come with your checking account. These include:
   • Our Overdraft Privilege service
   • A link to your savings account to cover overdrafts (ie: Overdraft transfer from Savings, which may be less expensive than Overdraft Privilege).
2. Line One – Line of Credit, which you may apply for. To learn more, ask a Credit Union representative about this service. (This service may be less expensive than Overdraft Privilege.)

This notice explains our Overdraft Privilege service.

What is the Overdraft Privilege service that comes with my checking account?

1. Sikorsky Credit Union will authorize and pay overdrafts for the following types of transactions:
   • Checks and other transactions (ACH withdrawals, e.g. automatic payments and debits) made using your checking account number.
   • Online banking transfers and online bill payments from your checking account.
   • Recurring debit card transactions (e.g., monthly bills charged to your debit card).
   • Cashing a Sikorsky Credit Union check at a teller.
2. Sikorsky Credit Union will not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below to opt-in):
   • ATM transactions
   • One-time debit card transactions (e.g., everyday debit card purchases).
3. Sikorsky Credit Union pays 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 Sikorsky Credit Union pays my overdraft?

1. When you utilize the Overdraft Privilege service:
   • We will charge you a Fee of $33 each time we pay an overdraft.
   • We will not charge you a fee for transactions ten dollars or less.
   • The maximum fees we will charge you for overdrawing your account is up to $99 per day. (Fees include Overdraft and/or Returned Non-Sufficient Funds Fees)

What if I want Sikorsky Credit Union to authorize and pay overdrafts on my ATM transactions and one-time debit card transactions? (e.g., everyday debit card purchases)

1. If you also want Sikorsky Credit Union to authorize and pay overdrafts on ATM transactions and one-time debit card transactions:
   • Call us at: (203) 377-2252 or
   • Complete the form below and click SUBMIT

Check your choice. Your choice will apply to everyone on your account.

Member Information