Draft Accounts (checking)

Share drafts look, and function in the same manner as checks.  This is where similarity ends.  The LaPorte Community Federal Credit Union has no minimum balance fees, no monthly service charge, and no per draft charges. 

To make your share draft account truly worry-free the credit union offers a "no bounce" courtesy pay program.  With this new Courtesy Pay benefit, the credit union will pay your checks if you do not have all the money available. This is a $300 limit that will be extended automatically to all members in good standing. New share draft accounts will qualify after the first 90 days.

This program is not a loan. It is simply a way to avoid negative impact on your credit record, extra expense for writing a "bad" check, and embarrassment. You will be charged a nominal $20 fee for each overdraft that is covered by the credit union. Remember, this will save you the high fees charged by other businesses for checks written with "insufficient funds."

The credit union will notify members by mail the total needed to bring your account back to a positive balance. Please do not exceed your Courtesy Pay limit by making certain that all deposits, checks, pre-authorized deductions, ATM withdrawals, etc. have been accurately noted in your checkbook register. Use this new benefit responsibly. The courtesy may be revoked for abuse or collection problems.

The credit union has a large variety of share draft styles from which you may choose. The cost varies by the style that you select, and our senior citizens (60 years of age or older) receive their checks at no charge. When a share draft is written, a carbonless copy is maintained for your records. This will lessen the chance of failing to record an entry in your draft register. If needed, a copy of the cancelled draft can be obtained for a small charge.

Overdraft protection is available to cover those unexpected "short of funds" occurrences. You may sign-up to have funds automatically transferred from your savings account to cover your drafts, or you may apply for an automatic loan to cover any non-sufficient funds draft.

A statement is sent or e-mailed to you for easy balancing.