ODP OVERDRAFT PRIVILEGE

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A Safety Net for Your Checking Account
Overdraft Privilege (ODP) shields you from the cost and embarrassment of a checking account overdraft, which occurs when a transaction posts to your account but the funds in the account won’t cover the total amount of the transaction. Whether the overdraft occurred from a small budget oversight or a bigger financial emergency, ODP reduces your out-of-pocket expenses that result from an overdraft and adds a level of protection to your Checking Account by ensuring that the overdraft is paid. Here are a few basics about ODP:
  • Under this service, New Horizon FCU will pay ACH transactions (automated, preauthorized transactions such as bill pay) and checks/drafts that present as non-sufficient funds, up to a maximum of $500.
  • You may also authorize New Horizon FCU to include ATM and one-time debit card transactions in this service by contacting us at 330-745-8897 to learn how to include these specific transaction types.
  • This service is a standard account feature that is automatically added to your account after 60 days in good standing.
  • ODP is free unless used, when a transaction fee will be assessed. A transaction fee will be assessed each time this service is used. Click here to see a list of current fees.
  • If you have a Share Savings Account, ODP occurs after funds in your Share Savings Account have been exhausted through our standard Overdraft Transfer service.
  • You will be notified when ODP has been used.
  • ODP will be suspended if (a) a Checking Account is negative for 30 days, and/or (b) loans are more than 60 days delinquent.
  • ODP will be revoked if items (a) and (b) above occur 3 times or more in 6-month period. Additionally, ODP can be revoked at any time for any reason at our discretion.Once the maximum amount is reached, overdrafts will be returned as non-sufficient funds (NSF).
  • Members who opt-out of this service are required to pay any and all fees associated with non-sufficient funds (NSF) in their checking accounts.

For additional information about ODP, call us at 330-745-8897.

180 Second St. SW, Barberton, OH 44203
Phone: (330) 745-8897 | Toll Free (888) 745-8897
Fax: (330) 745-8055 | Touch Tone Teller: (888) 229-0246
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