Overdraft Protection

Overdraft Protection

Stay Protected

Overdraft Line of Credit

AltaOne offers qualified members a revolving Line of Credit with a maximum limit for overdraft protection on member accounts.
  • Limits - $300 - $3,000
  • Refer to Consumer Loan Rate Sheet for current rates.
  • Rates are determined by the member's credit score.
  • Payment can be made monthly by mail, teller, automatic transfer, VoiceOne and MSC Online and Mobiliti.
  • Interest is charged on cash advances from the date of the advance.
  • Overdraft Lines of Credit are eligible for Debt Protection (Life, Disability & Involuntary Unemployment) at a low cost.
  • Business Lines of credit are not eligible for Debt Protection.
  • AltaOne offers competitive rates on our lines of credit. 

Courtesy Pay

Have you ever paid a bill and later realized your account did not have the funds to cover it? That's why AltaOne offers Courtesy Pay. Here's how this service works:
 
AltaOne offers Courtesy Pay to members who meet the following requirements:

General Qualification Requirements

  • Entire account must be in good standing.
  • For draft accounts only.
  • Account must be personal, club or living trust member code.
  • Account must be open at least 60 days.
  • Accounts must not be negative 15 days prior to being opted in.
  • Prior and continuing deposits of $500 minimum per month to the draft account.
  • No loan delinquencies or defaults.
  • No bankruptcy on record.
  • Not subject to a levy.
  • No reports to ChexSystems.
  • No Payday loans.  

Excluded Accounts

  • Draft second chances are not eligible
  • Non-personal
  • Two-signature accounts
  • Fiduciary accounts (living trust accounts are eligible)

Courtesy Pay Will Not Pay

  • If there is a restriction on the draft.
  • If the draft is more than $500 or $1,500 negative (depends upon the member’s qualification).
  • If there are not enough funds remaining on the courtesy pay limit to pay an item in full.
  • If the account has been opted out because it no longer meets the general requirements or if the member has requested and signed Courtesy Pay Opt-Out Form.

General Information

  • Members will be opted out, without notice, if they are no longer eligible.
  • AltaOne’s policy is to close a draft account when it has been negative for 30 consecutive days. If a deposit was made but the account ended that day with a negative balance, it is counted as a negative day.
  • AltaOne is not obligated to cover items with Courtesy Pay, even if eligible, and may decide not to pay an item at our discretion.
  • Members will be opted out for loss of contact (bad address or disconnected phone).