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Routing Number: 307070021
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Routing Number: 307070021

OverdraftOptions

 

Overdraft Coverage Options

At any time unforeseen events can leave you in a situation where you need unexpected funding. Whether you forgot to transfer money into your checking account, to make a deposit, or a billing error causing your account to be overcharged - we've got you covered.

Overdraft Protection

Overdraft Protection services apply to all transactions and may help prevent overdrafts by automatically transferring funds to your eligible checking account from another account or line of credit you may have at Air Academy Credit Union. Please note, overdraft lines of credit are subject to credit approval and transfers from an overdraft line of credit will incur a finance charge.

  • Covered Transactions include checks, debit card purchases, ATM withdrawals, electronic funds transfers, and ACH debits.
  • Use your money first with no fee.
  • Designated overdraft accounts include savings accounts, money fund accounts, and/or a personal line of credit 1

Premium Overdraft Service

Premium Overdraft Service allows you to overdraw your account up to the disclosed limit for a fee in order to pay a transaction. Even if you have overdraft protection, Premium Overdraft Service is still available as an additional coverage option if other overdraft protection options are exhausted.

Service Features

  • A Premium Overdraft Service fee of $32.00 is assessed per presentment 2 .
  • There is no limit per day on the total fees you may be assessed for utilizing the Premium Overdraft Service.
  • The amount of each transaction is deducted from the available Premium Overdraft service limit. The fee is not deducted from the available Premium Overdraft service limit.
  • Premium Overdraft Service is not a line of credit; it is a discretionary overdraft service that can be withdrawn by the credit union at any time without prior notice.  

Transactions Covered with Premium Overdraft Service Standard Coverage (no action required) Extended Coverage Alert Me
Checks X X
ACH-Automatic Debits X X
Recurring Debit Card Payments X X
Online Bill Pay Items X X
Teller Window Transactions X X
ATM Withdrawals* X*
Everyday Debit Card Transactions* X*
*Your consent is required on consumer accounts

If you choose Extended Coverage on your personal account, ATM withdrawals and everyday debit card transactions will be included with the transactions listed under Standard Coverage. If you already have Extended Premium Overdraft Service coverage, it is not necessary to request it again. 

You can opt-in to Extended Coverage by sending us a secure message through online and mobile banking, completing the Extended Coverage Form, visiting any branch location or contacting us at 719.593.8600 or 800.223.1983.

You can discontinue the Premium Overdraft Service by sending us a secure message through online and mobile banking, completing the Premium Overdraft Service Opt-Out Form, visiting any branch location or contacting us at 719.593.8600 or 800.223.1983.

Please review What Else You Should Know for other important information.

For more information, visit the Consumer Financial Protection Bureau.

 

Disclosures

1 Subject to credit approval.

2 Accounts will be assessed the Premium Overdraft Service Fee (Standard or Extended Coverage) for handling each overdraft created by check, ACH, Point-of-Sale, ATM withdrawal, in-person withdrawal, or other electronic item that is paid. An overdrawn balance must be repaid within 32 days. We may not pay items under your Premium Overdraft Service limit if you do not maintain your account in good standing by bringing your account to a positive balance within every thirty-two (32) day period for a minimum of 24 hours, if you default on any loan or other obligation to us or if your account is subject to any legal or administrative order or levy.