What is your policy on overdrafts?

Iowa Community Credit Union has specific policies regarding overdrafts to assist members in managing their finances effectively. Generally, overdrafts occur when a member's account has insufficient funds to cover transactions, resulting in a negative balance. The credit union aims to provide options to mitigate any potential fees and to help members avoid unexpected overdraft charges. Typically, services such as overdraft protection may be available, which allows funds to be automatically transferred from a linked savings account or line of credit when a member's checking account does not have enough money for a transaction. This service can help prevent declined transactions and minimize inconvenience for members. Moreover, Iowa Community Credit Union tends to charge overdraft fees when an account is overdrawn, but policies regarding the amount, timing, and conditions of these fees can vary. It is advisable for members to familiarize themselves with the specific details of the overdraft policy, including any potential fees and available options for protection. For the most accurate and updated information, members can visit the Iowa Community Credit Union website, where they may find detailed descriptions of overdraft services and policies.