Overdraft Protection

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Peace of Mind When You Need It

When life happens, overdraft protection can give you the peace of mind you need. An overdraft occurs when you don’t have enough money in your account to cover a transaction, but we still pay it on your behalf. We encourage all members to meet with a Workers WayTM Financial coach to determine the best coverage to fit their needs.


Sweep Transfer

A Sweep Transfer1 links your checking account to another Workers account--this will be the “sweep account”. If your checking account is overdrawn, a transfer will be made at the end of the day from your sweep account as long as the funds are available, plus a small fee for the transfer.


Checking Line of Credit

If you’re approved for a revolving line of credit,2 we will link it to your checking account so funds will be transferred from your available credit to cover your transaction if needed. Interest at a fixed rate will only accrue on the used balance of your line of credit and you can repay monthly or payoff in one lump sum with no penalties. An annual fee applies, see our fee schedule.


Meet with a Workers Way Financial Coach

Schedule an appointment with a Workers Way Financial coach to find out which overdraft option is the best for you.

 

1If the Sweep Transfer is linked to another checking account that has Overdraft Privilege, and the linked account does not have sufficient funds to cover the sweep, the Overdraft Privilege service may be activated, which may result in both a sweep transfer fee and an overdraft fee. See fee schedule for details. If the account used for Sweep Transfer is your membership savings account, the $5 membership share will not be available to sweep.

2Individuals under the age of 18 are not eligible for a Checking Line of Credit on their checking account.