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Overdraft Options

We get it - mistakes happen.

Having a check returned. Insufficient funds at the register. Overdraft charges. All of these things are costly, inconvenient and potentially embarrassing. Fortunately, we offer three different options to make sure you are covered!

Savings Transfer

  • When there's too little money in your checking account to cover a transaction, we'll automatically transfer available funds from your savings to cover the overdraft.
  • This service is provided free of charge

Overdraft Privilege

  • This discretionary service is available to eligible checking account members. It is designed to help prevent your insufficient funds items from being returned or declined.
  • There is no fee for having Overdraft Privilege unless you use it. Your overdrafts will be covered up to your Overdraft Privilege limit (including fees) and you will be charged a fee for each overdraft that is paid. This is the same fee that Oxford FCU charges for items returned due to insufficient funds.
With your consent, Overdraft Privilege can also apply to ATM withdrawals from your checking account and debit card transactions

Overdraft Protection

This is a line of credit and applicants are subject to credit approval. With Overdraft Protection, when overdrafts occur loan advances will be made in the exact amount of the overdraft.  Apply online for Overdraft Protection.

  • Credit limits up to $2,000
  • An automatic payment option
  • A low fixed annual percentage rate
  • Monthly payments are just 3% of your account balance or $20, whichever is greater.

Learn more about Overdraft Privilege and Overdraft Protection.

Oxford Federal Credit Union is a full-service financial institution serving members in Androscoggin, Cumberland, Franklin, Kennebec, Knox, Lincoln, Oxford, Sagadahoc, Somerset and York counties in Maine.

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