Overdraft Protection Line of Credit
- Overdraft Protection Line of Credit
Overdrafts occur when you don't have the necessary Available Balance in your account to cover your ATM withdrawals, debit card purchases, checks, automated bill payments, and pre-authorized withdrawals (i.e. gym membership).
Infinity Federal Credit Union (FCU) offers an Overdraft Protection Line of Credit (ODLOC) that advances funds to your checking account for pre-authorized withdrawals, checks, and automated bill payments. Funds are advanced in $100 increments to ensure that all transactions are covered. You pay interest on the amount in use. If the entire $100 is not needed, you have the option to transfer it back to your ODLOC through Home Banking. If you anticipate overdrawing your account, you can transfer the exact amount needed to cover the transaction from your ODLOC through Home Banking.
Consider pairing an ODLOC with good account management practices to avoid overdrawing your account.
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Call (207) 854-6000 Ext 4135