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Draft-A-Matic (Overdraft Protection)

Tired of paying overdraft fees?stressed out guy

With WCFCU’s Draft-A-Matic (overdraft protection) line of credit program, make an already great checking account even better.

This program protects you, our valued member, against over drawing your checking account by automatically creating a loan when an overdraft situation occurs… and best of all there in no fee to apply and no annual fee! You will only pay interest on the amount advanced, which will be pennies compared to per item overdraft fees.

What is Draft-A-Matic?

Draft-A-Matic is an overdraft protection to keep your checking account from overdrawing when you write a check or swipe your debit card but don’t have enough money in your checking account to cover the balance.  When a check is presented to the credit union for payment and there are not adequate funds in your account to cover the check, we will advance you a loan (in multiples of $100) so your check will clear.

Without overdraft protection, any transaction exceeding the amount in your checking account would be declined. You would be charged a fee and the merchant to whom you presented payment would also charge a fee in addition to the original amount of the transaction.

To qualify for a Draft-A-Matic overdraft protection, you would be subject to our standard credit approval process.

How does it work?

  • When a check is presented to the credit union for payment and there are not adequate funds in your account to cover the check, we will advance you a loan (in multiples of $100) so your check will clear.
  • We will notify you that Draft-A-Matic has been activated and tell you how much was transferred.
  • Credit limits up to $1,500.00 are available to qualified borrowers.
  • 18% Annual percentage rate will apply to outstanding advance balances.
  • Monthly payments are due on the 25th of each month.
  • Advances will appear on your monthly checking account statement.
  • Draft-A-Matic is a line of credit and is subject to credit approval.

How do I apply?

Simply fill out the loan application. It’s that easy!