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Overdraft Protection

You don’t have to worry about an overlooked overdraft with this service you get immediate protection since the funds transfer from your savings account to your checking to cover the check. There is a $5.00 fee for this service.

Loan Plus Line of Credit

Members can also have Loan Plus Overdraft Line of Credit, a line of credit attached to your checking account that is used to cover overdrafts. 

Overdraft Coverage Options

The choice is yours. Consider these ways to cover overdrafts:



Overdraft Protection Link to Another Deposit Account you have at Chessie Federal Credit Union1

$5 fee per transfer

Overdraft Protection Line of Credit1, 2

Subject to interest

1Call us at (301) 777-1781, email us at [email protected], or come by a branch to sign up or apply for these services; 2Subject to credit approval.


Overdraft Protection applies to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account or line of credit you may have at Chessie Federal Credit Union for a fee or finance charge. Please note that overdraft lines of credit are subject to credit approval.


Overdraft Consent Form

*If you choose Extended Coverage on your consumer account, ATM transactions and everyday debit card transactions will be included with the transactions listed under Standard Coverage. If you already have Overdraft Privilege Extended Coverage, it is not necessary to request it again. Business accounts automatically have Extended Coverage.

What Else You Should Know

  • A link to another account or a line of credit may be a less expensive option than an overdraft. A single larger overdraft will result in just one fee, as opposed to multiple smaller overdrafts. Good account management is the best way to avoid overdrafts.  Use our mobile banking, internet banking, and telephone banking services to keep track of your balance. For additional financial education resources, please visit
  • If an item is returned because the available balance in your account is not sufficient to cover the item and the item is presented for payment again, Chessie Federal Credit Union will charge a Return Item Fee  each time it returns the item because it exceeds the available balance in your account. If, on representment of the item, the available balance in your account is sufficient to cover the item Chessie Federal Credit Union may pay the item, and, if payment causes an overdraft, charge an Overdraft Fee.
  • For consumer accounts, there is no limit on the total Overdraft Fees per day we will charge.
  • Our general policy is to post items throughout the day and to post ACH credits before debits. ATM/POS items real time (as received), ACH and checks  (as received). Holds on funds (described herein) and the order in which transactions are posted may impact the total amount of Overdraft Fees or Return Item Fee s assessed.
  • Although under payment system rules, Chessie Federal Credit Union may be obligated to pay some unauthorized debit card transactions, Chessie Federal Credit Union will not authorize debit card or ATM transactions unless your account’s available balance (including Overdraft Coverage Options) is sufficient to cover the transactions and any fee(s).
  • Chessie Federal Credit Union will place a hold on your account for any authorized debit card transaction until the transaction settles (usually within two business days) or as permitted by payment system rules.  In some cases, the hold may exceed the amount of the transaction.  When the hold ends, the funds will be added to the available balance in your account.  If your account is overdrawn after the held funds are added to the available balance and the transaction is posted to the available balance, an Overdraft Fee may be assessed.
  • Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the Deposit Account and Disclosure Agreement. The total (negative) balance, including all fees and charges, is due and payable upon demand.

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