Important Changes to Overdraft Protection
Overdraft protection is a discretionary service that allows the credit union to authorize and pay for transactions even though you do not have enough funds in your account to cover the transaction. We offer this discretionary service as a convenience and to provide a safety net to our members.
Effective August 15, 2010, Hawaii State FCU will no longer be able to provide overdraft service on your ATM and everyday debit card transactions unless you give us your permission.
Over the next few weeks, the credit union will be communicating directly with members who access their checking accounts with a debit or ATM card. We will be making available several methods for you to let the credit union know if you wish to continue having overdraft protection. In each of these methods, you will need to provide a form of identification—like providing the last four digits of your Social Security number—to ensure that you are an account owner.
- Mail: If you receive a letter from us in mid July, you may complete and return the attached form in the enclosed business reply envelope. Please know that the business reply envelope is addressed to a national processing center in Chicago, Illinois.
- Internet: If you have a valid e-mail address on file, we will send you an e-mail message with instructions to go to a secured website where you may choose to continue with overdraft protection. The e-mail will be coming from
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
.
- Hawaii State FCU branch or Call Center: If you prefer to speak to someone in person, you may visit any branch or call our Member Services Call Center at 587-2700 (Oahu), or toll-free 1-888-586-1056. Our member services representatives can answer your questions and help you with the opt-in process.
If you do not let us know your decision before August 15, 2010, the credit union may cease providing overdraft services and automatically decline any ATM and everyday debit card transactions that overdraw your account.
No one plans to overdraw an account. But it’s good to have options if you do. You’re only charged a fee for this valued service if you use it and you can change your mind and discontinue at any time.
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