Premium Overdraft Protection

Premium Overdraft is a service that adds a measure of protection to your personal checking account in the event your account is overdrawn.

How Does It Work?

If your account is overdrawn due to a check or ACH automatic withdrawal, FAIRWINDS will allow that item to clear your account. The current overdraft service charge plus the amount of the withdrawal will be charged to your account. Please note that you are limited to 10 Premium Overdraft transactions per calendar year. Once the limit of 10 transactions has been reached, your Premium Overdraft service will be discontinued.

How much protection do I have and when does it become effective?

Simply Smarter & Interest Checking – protection of $750 effective 30 days after the account opening date.

Free Checking & all Other Consumer Checking Accounts – protection of $500 effective six months after the account opening date.

Am I eligible?

In order to access Premium Overdraft, your account must be open for at least 30 days for Simply Smarter and Interest Checking accounts and open for at least six months for Free Checking. Your account must also be maintained in “good standing” defined as:

• Maintaining a positive account balance for at least 30 consecutive days;
• There are no legal orders outstanding on your account;
• You do not have any loans with the credit union that are more than seven days past due;
• Your mailing address is current and up-to-date. Accounts listed as “No Mail” are restricted from Premium Overdraft;
• Making a minimum monthly deposit of $750 in your Simply Smarter or Interest Checking Account or making monthly minimum deposit of $500 in your Free Checking account and all other consumer checking accounts.

Do I have to apply?

No. Premium Overdraft requires no applications or additional signatures and we will send you a notice each time an overdraft occurs on your account. If you do not want to utilize the Premium Overdraft service, please let us know. We will turn off Premium Overdraft on your account and continue to access the existing overdraft protection options on your account. If there are non-sufficient funds in your account to cover an item(s), we will return the item(s) unpaid and charge your account a nonsufficient funds (NSF) fee.

Questions?
If you have any questions about Premium Overdraft Protection, you may contact us online, by email, or by calling Member Services at (407) 277-5045.

Service Charges may apply according to the account type for overdraft transfers.