Overdraft Protection Solutions – Opportunity to OPT-IN

Dear Member,

Recently, Federal Regulators have made changes to the way credit unions handle overdraft services that requires your immediate attention. As your financial services partner, we want to be sure you are aware of the available overdraft protection options. Ohio Catholic offers you two forms of overdraft protection: Standard Overdraft Protection and Courtesy Pay Overdraft Protection. The following information should be helpful as you consider your options.

With Standard Overdraft Protection, Ohio Catholic will honor your pre-set instructions to take the funds from one OCFCU account and place it in another OCFCU account in order to cover a shortage of funds. Fees may apply after your 6th transfer from any type of savings account. To connect your standard savings, money market savings, and share draft (checking) accounts, visit any Ohio Catholic Branch and an associate will be happy to assist you.

Courtesy Pay Overdraft Protection covers your insufficient funds, up to $500, for a fee of $25 per covered transaction. Courtesy Pay Overdraft Protection allows Ohio Catholic to provide a higher level of service to our members by helping protect your account and reputation when an inadvertent overdraft occurs. Ohio Catholic will continue to honor checks and other transactions made using your checking account and automatic bill payments as it has in the past.

After August 15, 2010, Ohio Catholic will not be able to authorize and pay overdrafts for ATM and one-time debit card transactions unless you OPT-IN. ATM and one-time debit card transactions will be declined if funds are not available. If you want us to authorize and pay overdrafts on ATM and one-time debit card transactions, you can OPT-IN by:

• calling Ohio Catholic at (216) 663-6800 or (330) 733-6002
• change Preferences of ‘My Overdraft Services’ through It’s Me 247 Online Banking How to change Preferences of ‘My Overdraft Services’ through It’s Me 247 Online Banking
• completing the Courtesy Pay Overdraft Protection Opt-In Form and sending it to the credit union at:
  • Ohio Catholic Federal Credit Union
    13623 Rockside Road
    Garfield Heights, Ohio 44125

If you do not OPT-IN by August 15, 2010, your ATM and debit card purchase may not be approved if you have insufficient funds in your payment account.

Call or stop by any branch location to sign up or to learn more about overdraft services and other money management tools available from YOUR credit union.

Sincerly,
Randy Trimm
CEO