The Basics of Overdraft Protection

Overdraft protection is an essential financial tool that can provide peace of mind and help you avoid the stress and overdraft fees associated with insufficient funds. Pathways Financial Credit Union is committed to supporting its members in managing their finances effectively and responsibly. Without overdraft protection, you may have to face the embarrassment of having transactions declined or checks returned due to insufficient funds. Coverage provided by protection ensures you have enough money to cover your transaction in that moment for an affiliated service cost.  

How Does Overdraft Protection Work?

At Pathways Financial Credit Union, we offer overdraft protection services for both savings and checking accounts. Through our line of credit, we will cover any transaction up to the pre-determined limit if your account balance is insufficient. You can then repay the credit union for the overdraft amounts plus interest.

If you have both a checking account and savings account with Pathways, we also offer an Automatic Transfer Service that will automatically transfer funds from your linked account to cover any overdraft up to the pre-determined limit in your checking account if it’s insufficient.

You can learn more about all of these overdraft coverage options below.

Overdraft Protection Options at Pathways Financial Credit Union

Pathways Financial Credit Union offers multiple overdraft coverage options to cater to the diverse needs of its members. These options include:

Overdraft Transfer Service

This service links your checking account to another deposit account, such as a savings account or a secondary checking account. In the event of an overdraft, funds are automatically transferred from the linked account to cover the transaction. This service may be subject to a nominal transfer fee.

Debit Card Coverage with Courtesy Pay 

Pathways' Courtesy Pay covers transactions you make when you don’t have the money in your account. With Courtesy Pay, we link your checking account to your savings account and transfer the funds automatically. We also offer Debit Card Overdraft protection for everyday purchases you make with your Pathways Debit Card without having the money available. 

Frequently Asked Questions about Overdraft Protection

Q. Is there a cost associated with it?

A. We will charge you a Courtesy Pay fee of $19.00 each time we pay an overdraft. 

Q. Are there limits to how much Pathways will cover in overdraft protection?

A. There is a limit of five (5) overdraft fees per day on the total fees we can charge you for overdrawing your account. We will not authorize and pay overdrafts for the following type of transactions without your consent: Everyday debit card transactions.

Q. Can I have multiple overdraft coverage options on my account?

A. Yes, you can have multiple options on your account to provide additional coverage. For example, you could have both an overdraft transfer service and a courtesy pay in place to ensure maximum protection.

Q. Is overdraft protection automatically provided, or do I need to apply for it?

A. Overdraft protection is not automatically provided and must be applied for. Enrolling in overdraft protection is easier than ever! Just click the button below, fill out the form, and click submit. You can also provide consent in person at any branch or mail your consent to us at Pathways Financial Credit Union, Attn: Compliance Dept., 5665 North Hamilton Road, Columbus, OH 43230

Q. Can I cancel or modify my protection if my needs change?

A. Yes, you can modify or cancel your protection at any time. Contact Pathways Financial Credit Union to discuss your needs and make any necessary changes.