Overdraft Protection Services

Checking Plus Sweep lets you use your own funds to cover an inadvertent overdraft on your checking account. You simply sign an agreement authorizing available funds from your savings, money market, or other account with us to be transferred to your checking account in the exact amount or in increments of $100 when an overdraft occurs. See one of our Customer Service Representatives to complete the authorization agreement.

Partial amounts may be transferred from the Secondary account in an effort to bring the Primary account to a positive balance. If the sweep amount would be less than $5.00 due to a low balance in the Secondary account, no sweep would occur. If the overdrawn account balance is less than $5.00, funds would sweep and no fee is incurred. A Checking Plus Sweep fee of $8.00 is deducted from your checking account when the sweep occurs.

First Reserve is a line of credit and contractual agreement that protects your checking account against overdrafts. Any item that causes an overdraft in your checking account will be paid by funds that are transferred from the line of credit, up to the predetermined limit. Complete a brief application at any of our branches.*

First Reserve lines of credit are available in amounts from $300 to $3,000. When you overdraw your checking account, your First Reserve will advance funds. Advances will occur in $100 increments from your First Reserve to your checking account. Payments of $15 per $300 owed are deducted from your checking account twenty four (24) days after the statement date. Additional payments may be made anytime. The finance charge for First Reserve is calculated by adding the daily interest charges that result from multiplying the outstanding balance each day of the statement period by the daily periodic rate of .049315% (Annual Percentage Rate of 18%). The finance charge begins to accrue on the date your First Reserve advances funds. There is a $25 annual fee for this service.
*Normal underwriting standards apply.

First Overdraft Privilege (FOP) is a non-contractual overdraft limit that may be assigned to your checking account. There is no action required for this service and you may decline it at any time. If applicable, the service will be activated on your account sixty (60) days after account opening if you maintain your account in good standing. This is defined as making regular deposits, not having any default loan obligation to Community First Bank, the account not being the subject to any legal or administrative order or levy and bringing your account to a positive balance at least once every thirty (30) days. Further, making regular deposits is defined as making deposits that total at least one and one half times the First Overdraft Privilege (FOP) limit assigned to your account (see Personal and Business Checking Account flyers for FOP limits). Note, the primary account holder must be at least nineteen (19) years old to be eligible for this service.

You’ll receive an overdraft notice each time items are paid. Overdrafts above and beyond your established First Overdraft Privilege limit may result in one or more items being returned NSF and the NSF fee charged per item up to the daily maximum. So as not to exceed your First Overdraft Privilege limit, you should note that the amount of the overdraft plus the Overdraft Paid Item Fee for each item that overdraws your account will be deducted from your First Overdraft Privilege limit. Your First Overdraft Privilege may be accessed by writing a check, setting up ACH auto debits, making an in-person withdrawal, using your Check Card for recurring debits, paying bills through Online banking, or making a transfer through FirstLine telephone banking.

You should note that your First Overdraft Privilege limit and your First Reserve line of credit (but not Sweep account balances) may be reflected in your checking account balance provided by a teller, through Online banking or FirstLine telephone banking, and at ATMs owned by us, but may not be reflected in your balance at ATMs not owned by us. Be aware that if you use these reserve funds, an overdraft may occur and fees may be assessed.

By keeping accurate records and knowing your balance, you can avoid mistakenly accessing your overdraft protection funds and incurring fees. The best way to do this is to use your check register to track your deposits, written checks, ACH auto debits, withdrawals and ATM or Check Card transactions. Always reconcile your check register with your bank statement. You can check your balance if you have Online or Mobile Banking or through FirstLine, our telephone banking system (1-800-485-2871).

First Overdraft Privilege (FOP) should be used to provide protection against the occasional error or funds shortfall and not as a short term credit service. We want you to know the Checking Plus Sweep and First Reserve Overdraft Protection (with approved application) are alternative options to FOP that may be less costly to you.

All of the overdraft protection services described on this page are optional. If you wish to decline First Overdraft Privilege, you may do so at any time and without penalty. Keep in mind, however, that if an item is presented for payment and there are not sufficient funds in your account, the item may be returned to the payee, and our current NSF fee will be charged per item up to the maximum daily limit.

If you do not choose an overdraft protection service, we pay overdrafts at our discretion which means we do not guarantee that we will always authorize or pay any type of transaction.

Federal banking Regulation E requires us to get your consent to allow overdraft fees to incur as a result of a Check Card transaction that creates an overdraft on your account. With First Overdraft Privilege, you must OPT IN to allow us to charge overdraft fees for one-time Check Card purchases and ATM withdrawals. Ask a Customer Service Representative how to do this. Remember that if you OPT OUT of Overdraft Consent, your Check Card transaction may be declined if there are no available funds when the preauthorization occurs.