OOPS! Disclosure

OOPS! Overdraft Privilege Service Policy

(A Discretionary Overdraft Service)

It is Power Credit Union's ("we, us, or our") policy to comply with applicable laws, rules and regulations, and to conduct business in accordance with strict safety and soundness standards. A non-sufficient funds (overdraft/negative balance) may result from: A) The payment of checks, electronic funds transfers, or other withdrawal requests you initiate; B) Payments authorized by you; C) The return, unpaid, of items deposited by you; D) Charging your account for our applicable service charges and fees; E) The deposit of items to your account which, according to our Funds Availability Policy, are treated as not yet "available" or "finally paid". We are not obligated to pay any item initiated for payment against your account if your account does not contain sufficient collected funds.

Rather than automatically returning, unpaid, any non-sufficient funds items that you may have, if your "eligible account type" has been open for at least thirty (30) days and thereafter you maintain your account in good standing, which includes at least: (A) Continuing to make deposits consistent with your past practices, and depositing at least $600 or more in your account within each thirty (30) day period, (B) You are not in default on any loan obligation to us, (C) You bring your account to a positive balance (not overdrawn) immediately or as soon as possible and at least once every thirty (30) days. You have no legal right to defer payment of your outstanding overdrafts including our fees, and (D) Your account is not the subject of any legal or administrative order or levy, such as bankruptcy or a tax lien, we will consider, without obligation on our part, approving your reasonable overdrafts up to your assigned OOPS! limit. This discretionary* service will generally be limited to a $600 overdraft (negative) balance or an $1,200 overdraft (negative) balance (see Eligible Accounts Types below).

Our normal fees and charges including, without limitation, our non-sufficient funds/overdraft fees (currently $28.00 per non-sufficient funds item) as set forth in our fee schedules will be included in these limits and will be charged for each transaction presented for payment against non-sufficient funds. We will charge our normal fee whether we approve the item for payment or not (currently $28.00 per non-sufficient funds item).

We may refuse to pay an overdraft for you at any time, even though your account is in good standing and even though we may have previously paid overdrafts for you. You will be notified by mail of any non-sufficient funds items paid or returned that you may have; however, we have no obligation to notify you before we pay or return any item. The amount of any overdrafts including our fees that you owe us shall be due and payable immediately. If there is an overdraft paid by us on an account with more than one (1) owner on the signature card, each owner, and agent if applicable, drawing/presenting the item creating the overdraft, shall be jointly and severally liable for such overdrafts including our fees.

Optional Overdraft Protection Services: We offer additional overdraft protection services that you may apply for. These include Line-of-Credit Overdraft Protection and Transfer (from another account of yours with us) Overdraft Protection. If you apply and are qualified for these optional services, you may save money on the total fees you pay us for overdraft protection services.

Ineligible Accounts and Limitations: Available only for eligible checking accounts that are maintained in good standing as defined above. Savings Type Accounts, Money Market Accounts, Public Fund/Charitable Organization Accounts, Certain Trust Accounts, and Minor Accounts not of legal age are NOT eligible for this service. We may, in our sole option and discretion, limit the number of your accounts eligible for the OOPS! to one account per household and/or one account per taxpayer identification number.

Eligible Account Types: The account types that are eligible for the OOPS! are: Checking Accounts with No Monthly Recurring Direct Deposit or a Monthly Recurring Direct Deposit of less than $600 will be eligible for a $600 OOPS! limit. Checking Accounts with a Monthly Recurring Direct Deposit of equal to or more than $600 will be eligible for a $1,200 OOPS! limit.

Debit Card Transactions: Effective August 15, 2010 Debit Cardholders must Opt-In to use the OOPS! program in order for debit card transactions to be covered.

Opting-In To Debit Card Transactions: Opting-In will allow members the privilege to use their debit card even if it causes the account to become overdrawn. This would all the credit union at our sole discretion to pay overdrafts up to the limited mentioned in this document. (see Eligible Account Types) Normal OOPS! fee charges will be assessed for each non-sufficient fund transaction that is in need to the OOPS! program.

Opting-Out of Debit Card Transactions: If you choose to Opt-Out, debit card transactions WILL NOT BE ALLOWED if sufficient funds are not available at the time of the transaction. OOPS! fees will not apply if you choose to Opt-Out of OOPS! for your debit card.
You May Always Opt-Out: You may choose at any time not to participate in the OOPS! by notifying one of our Service Representatives who will explain what this ("Opt Out") means, and the potential consequences, for you.

Eligible Transaction Types: NSF transactions initiated for payment against your checking account(s) may be approved/paid by using, and up to your assigned OOPS! limit, including our fees. The eligible transaction types will include, without limitation: Checks, ACH, POS, Home or Internet Banking Bill Payment and Transfers, and Telephone Banking Bill Payment and Transfers.

You May Always Opt-Out of The OOPS! Program: You may choose at any time not to participate in the OOPS! by notifying one of our Service Representatives who will explain what this ("Opt-Out") means, and the potential consequences, for you.

If You Need Help: Of course, overdrafts should not be used to pay ordinary or routine expenses and you should not rely on overdrafts as a means to cover these expenses. If at any time you feel you need help with your financial obligations please contact one of our Personal Service Representatives at (800) 238-3611.

ALWAYS A DISCRETIONARY* SERVICE: Our OOPS! Occasional Overdraft Privilege Service does not constitute an actual or implied agreement between you and us. Nor does it constitute an actual or implied obligation of or by us. This service represents a purely discretionary courtesy or privilege that we may provide to you from time to time and which may be withdrawn or withheld by us at any time without prior notice or reason or cause.