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Collins Community Credit Union

Overdraft Protection

Why should you Opt In?

Everyone miscalculates their checkbook or loses track of expenses from time to time. That’s why we offer Overdraft Privilege—a benefit to members in good standing that will cover overdrafts if you inadvertently overdraw your account. With Overdraft Privilege, we may pay your items rather than returning or declining them, saving you the embarrassment and inconvenience of a returned or declined item, as well as fees normally charged by merchants for items, returned to them.

Currently, our Overdraft Privilege service is available on many Collins Community Credit Union accounts for checks, ACH and Online Bill Pay transactions. *We are pleased to announce the Overdraft Privilege service has recently been expanded to cover overdrafts for ATM cash withdrawals and Debit Card transactions. This new expansion is only available if you give us consent (opt in) for payment of ATM and everyday debit card overdrafts. If you would like us to pay overdrafts for these transactions, you can give us your authorization by: 

Overdraft Privilege is not a line of credit. Balances at an ATM or other point of inquiry will not include the Overdraft Privilege limit; however items may be paid in excess of the balance provided, creating an overdraft.

In accordance with our Discretionary Overdraft Privilege Disclosure, your account will be charged our standard overdraft fee of $32 for each item that is paid. It is possible that your account can become overdrawn in excess of your Overdraft Privilege limit. Please keep in mind that we also offer overdraft protection plans that may be less costly than Overdraft Privilege, such as a link to another account or a line of credit. If you already have another form of overdraft protection, it will be exhausted before Overdraft Privilege is used.

Overdraft Privilege can bring you peace of mind and help avoid hassle and merchant fees. For more information, stop by one of our convenient branch locations or give us call at 1-800-475-1150.

You can revoke your authorization for Collins Community Credit Union to pay these overdrafts by calling 1-800-475-1150 option 3, coming by a branch, by clicking decline on the Online Opt In Form, or by mailing a revocation of consent to 1150 42nd Street NE, Cedar Rapids, IA 52410. Your revocation must include both your name and your account number so that we can properly identify your account.

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