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Overdraft Privilege

We all make mistakes.

With our Overdraft Privilege, qualified* members can save money and avoid the embarrassment of returned checks, declined debit card purchases, and electronic funds transfers. This program offers: 

  • Protection from merchant returned check charges
  • Protection from late fees associated with late payments on monthly bills
  • Protection of your good credit and name

Opt-in or Opt-out and Overdraft Privilege Program

What You Need to Know about Overdrafts and Overdraft Fees: 

An overdraft occurs when you do not have enough money in your account to cover a transaction.

  • MCECU may modify the content of this Notice to indicate that as a member, you have the right to opt into, or opt out of, the payment of overdrafts under MCECU overdraft service for other types of transactions, such as checks or ACH transactions; to provide a means for the member to exercise this choice; and to disclose the associated returned item fee and that additional merchant fees may MCECU further discloses to you, as a member, that you have the right to revoke consent.1

Standard overdraft privileges that come with my account: 

 We do authorize and pay overdrafts for the following types of transactions:

  • Checks and other transactions made using your checking account number
  • Automatic bill payments

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

  • ATM transactions
  • Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. MCECU reserves the right to review any request for overdraft reversal charge and to require payment of overdrafts on demand.

If we DO NOT authorize and pay an overdraft, your transaction will be declined, and a $25.00* non-sufficient fund fee (NSF) will be charged to your account.

*per each submission/resubmission 

Fees I will be charged if MCECU pays my overdraft:  

  • We will charge you a fee of $25.00 each time we pay an overdraft.
  • There is no limit on the total fees we can charge you for overdrawing your account. 

I want MCECU to authorize and pay overdrafts:  

If you want MCECU to authorize and pay overdrafts on ATM and everyday debit card transactions, then you would OPT-IN, which means that you may overdraw your account using your debit card and you are willing to accept any penalties or fees associated with those transactions. I/member will call MCECU at 1-877-825-3180 or 901-321-1200, will go to memphiscu.org, or will complete this form and present it at a branch or remit by mail for processing to Memphis City Employees Credit Union, 2608 Avery Ave, Memphis, TN 38112.

The overdraft maximum is $600.00, including overdraft fee of $25.00 for each transaction.

1 You may revoke your authorization at any time by calling MCECU at 1-877-825-3180 or 901-321-1200. Ask a Member Service Representative for more information.

*Must be at least 18 years old and not past due on any Credit Union obligation. New Checking accounts opened 60 days or more may have a $600 Overdraft Privilege Pay limit, including fees. Eligibility is at the discretion of the Credit Union. A request to “Opt-In” for Overdraft Privilege will be required for Point of Sale (POS) or ATM debits. A $25 fee may be charged per overdraft occurrence. There is no limit to the total fees that can be charged per account. Repayment of overdraft balance and fees are payable upon demand. If payment is not made within 30 days, these privileges will be suspended. A $25 fee may be imposed for overdrafts created by checks, ATM withdrawals, Debit card transactions or by other electronic means, as applicable.
Become a MemberJoining your credit union only takes a few minutes!

Here's what you'll need: 
Your SSN
Your Driver's License or State ID
Your Contact information

Do you already have a login?
Log in and choose the Quick Apply Tab for a faster experience. We can prefill part of the application and provide access to your MCECU accounts.

YES         NO

Set up Text Alerts on your mobile phone!

Keep and eye on your account with Text Alerts!

  • Transaction Alerts
  • Mobile Banking Access Alerts
  • Daily Balance Alerts
  • Loan Payment Due Alerts

If you would like more information, give us a call at 901-321-1200 or CHAT with us during normal business hours.

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