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Overdraft Authorization

Disclosures and important information

Overdraft Privilege Program Summary

Overdraft Privilege is a non-contractual agreement between Space Age Federal Credit Union and its members. Overdraft Privilege is a service that may cover a transaction when sufficient funds are not available. The member may be charged a $33.00 fee per item paid utilizing the service. (A $10.00 fee per item may apply for items of $10.00 or less.)

Items Paid Using the Overdraft Privilege Program

The following transactions may be covered by the Overdraft Privilege Program without a signed E-Services Overdraft Privilege Authorization form:
  • Checks and other debits cashed with a Teller
  • Automatic bill payments (ACH Items)
  • Checks written on your share draft account
Overdraft items will be posted in accordance with Space Age Federal Credit Union's existing share draft (checking) procedures.

Members who currently have overdraft transfer protection from their share (savings) account or an overdraft line of credit will continue to have access to these services prior to accessing the Overdraft Privilege Program.

E-Service Items Requiring a Signed Authorization Form

As of July 1, 2010, if you wish to have ATM withdrawals and debit card transactions covered by the Overdraft Privilege Program when enough funds are not available, you are required to complete, sign and return this E-Services Overdraft Privilege Authorization form to the Credit Union.

Alternatives to Opting In via this Authorization Form

If you choose to not opt-in by completing and signing this E-Services Overdraft Authorization form, your ATM withdrawals and debit card transactions will be declined when funds are not available. You may also contact the Credit Union regarding other possible lower cost alternatives to the Overdraft Privilege Program by calling us at 303.369.7666 or 800.666.6928, or visiting our website at www.spaceagefcu.org.