Overdraft Protection

Standard Overdraft Protection

We'll automatically transfer funds to your eligible checking account from another account if there are not sufficient funds to complete select transactions.¹ Standard Overdraft Protection applies to checks, ACH debits, recurring debit card transactions, online Bill Pay items, and teller window transactions. Standard Overdraft Protection is available for all checking accounts and is generally established when your account is opened.

Prime Privilege Extended Overdraft Protection

Prime Privilege allows you to temporarily draw your Prime Checking Account balance negative, up to $1,000 for consumer accounts and $500 for sole proprietorship small business accounts, to complete a transaction when you do not have sufficient funds in your eligible checking account and Standard Overdraft Protection is not sufficient or applicable.¹

Once you've opted into Prime Privilege, there are no additional applications or credit checks, making it a convenient alternative to emergency loans, payday loans, and title loans. Prime Privilege covers the same transactions as Standard Overdraft Protection PLUS everyday debit card transactions and ATM withdrawals.

You can opt-in to Prime Privilege Extended Overdraft Protection with the following checking accounts:

• Prime Checking
• Primo Checking
• Small Business Checking (Sole Proprietorships Only)

Apply for Prime Privilege Extended Overdraft

• Complete the online Prime Privilege Extended Overdraft Consent Form
• Call us at 414.486.4500
• Visit any branch
• E-mail us at [email protected]
• Print and complete the Prime Privilege Extended Overdraft Consent Form and mail it to 5656 S. Packard Ave. Cudahy, WI 53110

You can discontinue Prime Privilege Extended Overdraft Protection in its entirety by contacting us at 414.486.4500 or by sending us an e-mail at [email protected].

What Else You Should Know

We are dedicated to offering transparent and fair products and services to our members. Here are some things you should know about Prime Privilege Extended Overdraft Protection:

• Less Expensive Options: A link to another account 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 www.mymoney.gov.
• Fees: The $35 Prime Privilege Fee or OD by Debit Fee that is charged if you overdraw your account is the same fee amount that is charged if a check is returned as unpaid. If multiple items overdraw your account on the same day, each item will be assessed an appropriate Prime Privilege Fee, OD by Debit Fee, or a Returned Item Fee of $35. All fees and charges will be included as part of the Prime Privilege limit amount. Your account may become overdrawn more than the Prime Privilege limit amount because of a fee.
• Fee Limits: There is no limit on the total Prime Privilege Fees, OD by Debit Fees, or Returned Item Fees per day we will charge.
• Transaction Posting Policy: Our general policy is to post items throughout the day and to post credits before debits. Paper checks are posted in lowest to highest dollar amount, while ATM, ACH and debit card transactions are posted in the order in which the items are received. However, because of the many ways we allow you to access your account, the posting order of individual items may differ from these general policies. Holds on funds (described herein) and the order in which transactions are posted may impact the total amount of Prime Privilege Fees, OD by Debit Fees, or Returned Item Fees assessed.
• System Rules: Although under payment system rules, Prime Financial Credit Union may be obligated to pay some unauthorized debit card transactions, Prime Financial 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).
• Consent: Giving us your consent to pay everyday debit card and ATM overdrafts on your consumer account (Extended Coverage) may result in you incurring Prime Privilege Fees for transactions that we would otherwise be required to pay without assessing a Prime Privilege Fee. However, this would allow us to authorize transactions up to the amount of your Prime Privilege limit and may also help you avoid overdrafts in excess of your available balance that could result in suspension of your debit card. If you consent to Extended Coverage on your consumer account, it will remain on your account until you otherwise withdraw it.
• Available Balance & Holds: Prime Financial Credit Union authorizes and pays transactions using the available balance in your account. Prime Financial Credit Union may place a hold on deposited funds in accordance with our Important Information About Your Account Disclosure, which will reduce the amount in your available balance. The available balance for checks, ACH items, and recurring debit card transactions is comprised of the account balance, less any holds on deposited funds and any debit card holds, plus the amount of the Prime Privilege limit and any available Overdraft Protection. The available balance for ATM and everyday debit card transactions on accounts with Standard Coverage is the account balance, less any holds on deposited funds and any debit card holds, plus any available Overdraft Protection, but does NOT include the Prime Privilege Limit. For accounts with Extended Coverage, the Prime Privilege Limit is included in the available balance for authorizing ATM and everyday debit card transactions.
• Online Banking & ATM Available Balances: Please be aware that the Prime Privilege amount is not included in your available balance provided through online banking, mobile banking or Prime Financial Credit Union’s ATMs.
• Holds: Prime Financial 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, a Prime Privilege Fee or OD by Debit Fee may be assessed.
• Available Balance Sufficiencies: Except as described herein, Prime Financial Credit Union will not pay items if the available balance in your account (including the Prime Privilege limit, if applicable) is not sufficient to cover the item(s) and the amount of any fee(s).
• Debit Card Suspension & Excess Overdrafts: Prime Financial Credit Union may suspend your debit card if you incur overdrafts in excess of the available balance in your account, including any Prime Privilege limit (as described herein). Debit cards on your account will remain suspended until you make sufficient deposits so that your available balance, taking into account any Prime Privilege limit, is positive and then you contact us.
• Debit Card Suspension & Negative Balance Timelines: Prime Financial Credit Union may also suspend your debit card if your account is overdrawn more than thirty-two (32) consecutive calendar days. Debit cards on your account will remain suspended until you make sufficient deposits so that your account balance is positive.
• Debit Card Suspension & Incorrect Contact Information: Prime Financial Credit Union may also suspend your debit card if we are unable to contact you due to an incorrect mailing address or phone number(s). You must contact us with your correct mailing address and/or phone number(s) to have your debit card reinstated.
• Outcomes & Responsibilities of Debit Card Suspension: If your debit card is suspended, you will be unable to use your debit card for purchases or to access your account(s) at the ATM, and if you use your debit card for recurring payments, e.g., utilities, you are responsible to make other arrangements for your recurring debit payment(s).
• Consumer Limits: A Prime Privilege limit of $1,000 will be granted to eligible consumer checking accounts opened at least 30 days in good standing.
• Business Limits: A Prime Privilege limit of $500 will be granted to eligible Business Checking accounts opened at least 30 days in good standing.
• Discretionary Service: Prime Privilege is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice.
• Requirement of Good Standing Membership: Prime Privilege may be discontinued if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within thirty-two (32) days for a minimum of one business day. You must bring your account balance positive for at least one business day to have Prime Privilege reinstated.
• Liability: Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in Important Information About Your Account Disclosure. The total (negative) balance, including all fees and charges, is due and payable upon demand.

You can download a copy of this disclosure here.