Local 20 IBEW FCU
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Address
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Phone Number
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Toll-free Phone Number
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Fax Number
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688 West Tarrant Road
Grand Prairie, TX 75050-3544
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214-363-9223
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1-877-654-3960
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214-363-5836
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IMPORTANT INFORMATION:
Starting in July 2010, the United States Government is requiring all Checking Account (Share Draft Account) Holders to opt in or opt out for Overdraft Payment for ATM transactions and everyday debit card transactions.
If you DO NOT AUTHORIZE payment, your transactions(s) will decline if there is not enough funds in your account to cover overdraft.
Please read the enclosed flyer for futher details. If you have any questions, please don't hesitate to contact the Credit Union at 214-363-9223
What You 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 come 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 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:
Checks and other transactions made using your checking account number
We do not authorize and pay overdrafts for the following types of transactions unless you ask us (see below):
*ATM transactions
*Everyday debit card 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 Local 20 IBEW Federal Credit Union pays my overdraft?
Under our standard overdraft practices:
*We will charge you a fee of up to $20.00 each time we pay an overdraft.
*There is no limit on the total fees we can charge your for overdrawing your
Account.
What if I want Local 20 IBEW Federal Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions?
If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call 214-363-9223, visit www.local20ibewfcu.com or complete the form below and present at the office or mail it to 11311 North Central Expressway, Suite #208, Dallas, Texas 75243.
______ I do not want Local 20 IBEW Federal Credit Union to authorize and pay
Overdrafts on my ATM and everyday debit card transactions.
______ I want Local 20 IBEW Federal Credit Union to authorize and pay overdrafts
On my ATM and everyday debit card transactions.
Member Name: _________________________________________
Account Number: _______________________________________
Date: _________________________
“Not for Profit, Not for Charity, But for Service”
