Overdraft Protection

Protect your checking account from NSF fees or declined transactions. An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. UL Federal Credit Union offers you two convenient protection options.

Overdraft Privilege

What are the standard overdraft practices that come with your checking account?
We do authorize and pay overdrafts for the following transactions:

  • Automated Clearing House (ACH) withdrawals
  • Bill Payer transactions 
  • Checks written off your account

We will not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below)

  • Automated Teller Machine (ATM) transactions 
  • Debit card transactions

We do not pay overdrafts that would make your account overdrawn by more than your Overdraft Privilege limit. We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if University of Louisiana Federal Credit Union pays my Overdraft Privilege?

Under our standard overdraft practices:

  • We will charge you a fee of $29.00 each time we pay an overdraft. 
  • There is no limit on the total fees we can charge you for overdrawing your account up to your Overdraft Privilege limit.

What if I want University of Louisiana Federal Credit Union to authorize and pay overdrafts on my everyday debit card transaction?
If you want us to authorize and pay overdrafts on ATM and debit card transactions, just let us know. You can contact us by phone, by mail, by fax, in person or through our website.

In Person: Visit a branch to complete the form 
Phone: (337) 482-6956 or (800) 232-9616 
Fax: Download the Overdraft Privilege Form (PDF – new window/tab) and fax to (337) 233-0379 
Mail: Download the form above and mail to ULFCU, Attn: Overdraft Opt-In, P.O. Box 43635, Lafayette, LA 70504

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For more information about Overdraft Privilege, visit a branch or call us at (337) 482-6956.

Balance must show positive at least one time during a 30 day period or account is at risk to be closed. 

Overdraft Protection

When there are not enough available funds in your checking account, UL Federal Credit Union can transfer funds from your designated Overdraft Protection source to your checking account. Choose to link your savings account or line of credit with your checking account.

  • No fees are charged when money is transferred from your linked savings or line of credit to your checking account.
  • Link to both savings and line of credit – you can link your checking account to up to 5 accounts to cover your checking account, choose from your Regular Savings, Super Saver, Vacation Savings and your line of credit. Or connect all of them.
  • Should you link to your line of credit, you’ll pay interest on the amount you borrow until you pay it back.
  • If you do not have the funds available in your linked savings account or available on your line of credit, the checking account transaction will be declined.
  • Repayment of all overdraft funds must be completed within 30 calendar days after account is overdrawn. 

To add Overdraft Protection or for more information, visit a branch or call us at (337) 482-6956.