- We have standard overdraft practices that come with your account.
- 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 us 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
- Automatic bill payments
- Recurring debit card transactions
We
do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):
- Any ATM transaction
- One-time debit card transactions (either signature or PIN based)
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 Great Lakes Credit Union pays my overdraft? Under our standard overdraft practices:
- We will charge you a fee of $28 each time we pay an overdraft.
- There is no limit on the total fees we can charge you for overdrawing your account.
Our current overdraft policies will apply until these changes go into effect on August 15, 2010. 
