Overdraft Protection

Make a mistake balancing your account?  Ohio Catholic has you covered. If you choose Ohio Catholic’s Overdraft Protection solutions subtraction errors, forgotten withdrawals, or timing errors will keep you out of  the red .  Ohio Catholic offers two forms of overdraft protection: Standard Overdraft Protection and Courtesy Pay Overdraft Protection. 

Standard Overdraft Protection
With Standard Overdraft Protection, Ohio Catholic will honor your pre-set instructions to take the funds from one Ohio Catholic account and place it in another Ohio Catholic account in order to cover a shortage of funds.  There are no fees associated with Standard Overdraft Protection. In accordance with Regulation D, you may be charged a fee if the number of automatic transfers from any type of savings account exceeds six within one month.  See Regulation D and Fee Schedule for details. To connect your standard savings, money market savings, and share draft (checking) accounts visit any Ohio Catholic Branch and a Member Service Representative will be happy to assist you.

Smart Money Tip – Set-up your Overdraft Protection before you need it, so it is available when the unexpected happens.

Courtesy Pay Overdraft Protection
Courtesy Pay Overdraft Protection covers your insufficient funds, up to $500, for a fee 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.  Whether your overdrafts will be paid is at the discretion of the credit union and we reserve the right not to pay.  Courtesy Pay Overdraft Protection is a non-contractual courtesy; it is not a loan, no additional agreements need to be signed, and it costs nothing unless the privilege is used. See Fee Schedule. Eligibility is available 90 days after membership is established and is based on responsible account management.  

Recently, Federal regulators have made changes to the way that courtesy pay overdraft services are handled.  Ohio Catholic will continue to honor checks and electronic transactions 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.  If you do not OPT-IN, your 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:

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.

Authorization to Revoke Courtesy Pay Overdraft Protection- Ohio Catholic Federal Credit Union will discontinue its payment of such  overdrafts as soon as possible after receiving notice of your revocation.  Any joint owner of the account may revoke the agreement.  Please send written notice of desire to revoke Courtesy Pay Overdraft Protection to Ohio Catholic’s Garfield Heights branch office.

Smart Money Tip - Good account management is the best way to prevent overdraft fees. Avoid using Courtesy Pay Overdraft Protection by setting up your accounts with Standard Overdraft Protection.

Smart Money Tip - Keep track of the balances in your accounts by calling CU*TALK at 800-860-5704 or logging into It’s Me 247. Remember to deduct any outstanding checks or debits that have not posted from your account balance. We recommend not using balances received from an ATM machine because pending transactions may not have posted.

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