Financial Facts

How Does an Overdraft Affect My Account?

Daniel and Susan were busy getting ready to leave town for a winter weekend getaway. Each of them had a separate "to-do" list, so Susan wasn't aware that her husband decided to replace his old luggage with a new set just when she was using their debit card to buy a portable GPS unit to make their trip easier. Together, the unexpected purchases pushed their checking account over the edge.

Protection from Unintentional Overdrafts

Sometimes life throws a few financial surprises your way and overdrafts occur. American Southwest Credit Union's Overdraft Protection Program is designed to save you from the inconvenience and embarrassment of finding insufficient funds in your account.

At American Southwest Credit Union, we help our members avoid uncomfortable situations like the couple above in the following ways:

  1. Standard overdraft practices that come with your account. This includes our authorization and payment of overdrafts caused by checks or automatic bill payments. You will be charged a fee of $25 each time we pay an overdraft.
  2. Overdraft protection plans. Two options include: 1) having your checking account set up to transfer funds from a savings account to cover overdrafts for a small fee of $1, or 2) establishing an overdraft line of credit.

Add Overdraft Protection to Your Accounts

Almost everyone is capable of an overdraft mistake once in a while and American Southwest Credit Union is here to help you make the most of your finances – even when you're busy, running behind or distracted. Visit us at, call 520-459-1860 or 800-752-6394, or stop in and see us today to set up overdraft protection for your accounts.

Change in Regulations
Overdrafts Due to Debit Card Transactions

Protection from overdrafts caused by everyday debit card transactions is handled differently from other types of overdraft protection. On Aug. 15, 2010, new regulations went into effect that require members to opt in to receive overdraft protection to cover one-time debit card transactions. Debit card transactions made without sufficient funds in your account are now declined by merchants at the point-of-sale.

If you did not opt in for this coverage, but would now like to have it added to your account, call 520-459-1860 or 800-752-6394, visit us online at or stop in and see us today. There is a fee involved for us to cover debit card overdrafts. New members may sign up for this coverage when opening an account (available after the first 30 days).

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