Overdraft Protection & Overdraft Privilege

Who hasn’t made an error of ). We pay your checks to keep addition or subtraction in their them from being returned unpaid; checkbook? And who hasn’t we charge you an Insufficient Funds occasionally had too much month of $29 for each check we cover. left at the end of the money? If • There is no cost if you don’t use that happens to you, and you have it, but it’s there if you need it! Overdraft Protection or Overdraft • Eliminates bounced check and Privilege, then “we’ve got your merchant- charged NSF fees. back.” • It’s a convenient and dependable Overdraft Protection source of temporary cash. Depending on the types of • You do not need to do anything to accounts you have, you may activate the service. choose from any of the following • You can opt-out of this service at to cover overdrafts. any time. • Link your savings account or What’s Covered & What’s Not money market account to your checking. Checks you write that are processed through another financial institution • Set up an Overdraft Line-of- and electronic items paid by ACH Credit. You’ll need to apply through your checking account are separately, just as you would any covered by Overdraft Privilege. ATM other . transactions and VISA • Link your Home Equity Line-of- transactions are not covered. Credit to your checking account. Everyone makes a mistake • Link your Summit VISA Credit Whether overdrafts will be paid is Card Line-of-Credit to your occasionally. With Overdraft discretionary and we reserve the checking account. Protection and Privilege... right not to pay. For example, we We’ve Got Your Back! typically do not pay overdrafts if an Transfers are made in $100 account is not in good standing, if increments (except from Money the member is not making regular Markets where they are made in $500 increments). deposits, or if they have too many overdrafts. There are no transfer fees and no overdraft fees. However, in cases where you are using a line-of-credit, Keeping Your Account in Good Standing you do pay on the amount transferred until the In order to keep your Summit checking account in good loan is paid off. standing, once Overdraft Privilege pays your checks for you; you will need to bring your checking account Overdraft Privilege balance back to at least a positive balance of $1, and Overdraft Privilege is available to members who have payoff any Overdraft Privilege balance within 30 days. had their Summit consumer checking account for a minimum of 60 days, and have kept it in good standing. Balances Not paid off in 30 days will be transferred to Overdraft Privilege is only available on one consumer an overdraft loan at the current interest rate and no checking account per member and is not available on further Overdraft Privilege transactions will be allowed Summit business checking accounts. until the loan is paid off. Once your Overdraft Privilege is set up, we will consider payment of overdrafts up to a total of $400 (including [Revised 2015-02] Member Services 336-662-6200 • 800-632-0210 Mortgage Call Center 336-662-6206 • 877-223-9563 24-Hour Loan Call Center 336-662-6202 • 800-288-5252