Overdraft Protection

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway*. 

Standard Overdraft Protection (for checks and ACH transactions)

Standard Overdraft Protection automatically comes with your account.  We may either return or authorize and pay overdrafts for the following types of transactions:

  • Checks and other transactions made using your checking account number
  • Automatic bill payments (ACH)
  • Excludes debit card and ATM transactions (unless you sign up for Overdraft Opt-In explained below)

Fees and limitations apply.  Contact us at (219) 763-5640 for more information.

Overdraft Opt-In (for debit card and ATM Transactions)

By law, Midwest Family Federal Credit Union cannot authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

  • ATM transactions
  • Everyday debit card transactions

If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, you must "Opt-In". There is no charge to have this protection added to your account. You will only be charged if you overdraw your account. To Opt-In, complete and return this form or contact us at (219) 763-5640. Fees and limitations apply.

Overdraft Protection Plans

Other Overdraft Protection Plans are available upon request.  In some cases, these plans may be less expensive than our standard overdraft protection.

  • Link to a share (savings) account or approved personal line of credit
  • Courtesy Pay

For more information about these plans, including applicable fees and limitation, contact a Member Service Representative at (219) 763-5640.

*Overdrafts are paid at our discretion and 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.  Under our Standard Overdraft Protection, you will be charged a fee of up to $30.00 each time we pay an overdraft, limited to $150.00 maximum per day on the total fees we may charge you for overdrawing your account