Overdraft Protection

New Federal Regulation (Reg E) takes effect on August 15, 2010 and will impact our ability to extend overdraft protection services to debit card holders unless they opt-in to this protection. It is important to note that this regulation only affects everyday debit card transactions made with a debit card and ATM transactions. At this time, we do not offer overdraft courtesy pay on ATM transactions so this part of the regulation does not currently apply to Natco Credit Union and our members. The regulation does not affect the way overdraft courtesy pay works for checks and reoccurring debit card transactions.

We feel it is important to educate our members on the new regulation and how it can affect our debit card holders. Click the 'What is Regulation E?' document to learn more.

There is no fee to have the protection in place and by opting in you have the reassurance of knowing your everyday debit card purchases will be authorized. In the event that overdraft courtesy pay is used to cover the transaction, a $25 fee will be assessed for each item that overdraws your account. Your overdraft limit is $525 {including the amount of the overdrawn item(s) and the fee(s)}.

If you have not already returned your form, simply print the Regulation E Opt-in/Opt-out form and return it to us by one of the methods listed below.

  • Drop off at one of our branch offices
  • Mail to PO Box 817, Richmond, IN 47375-0817
  • Fax to one of our offices

Main - (765) 966-3989

East Main (765) 962-0617

Connersville (765) 827-1543

Regulation changes will take effect on August 15, 2010. Be sure to complete your Opt-In/Opt-Out form prior to this date and return it to one of our offices. If you opt-in, you will see no change in the way overdraft courtesy pay works today and how it works after August 15, 2010.

Please feel free to contact one of our offices if you have any additional questions.