What You Need to Know About Overdrafts and Overdraft Fees

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we may pay it anyway. We can cover your overdrafts in two different ways:

1. We have standard overdraft practices that come with your membership account.
2. We also offer overdraft protection plans, such as a link to a savings account and/or a line of credit, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my membership account?

We do authorize and pay overdrafts for the following types of transactions:

• Checks and other transactions made using your checking account number
• Automatic bill payments

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below):

• Everyday debit card transactions

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction.

If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Redwood Credit Union pays my overdraft?

Under our standard overdraft practices:

• We will charge you a $22 non-sufficient funds fee each time we pay an overdraft.
• No more than 6 non-sufficient funds fees may be charged per day.
• You will not be charged negative balance or daily overdraft fees.

What if I want Redwood Credit Union to authorize and pay overdrafts on my everyday debit card transactions?

If you also want us to authorize and pay overdrafts on everyday debit card transactions, call our toll-free automated number at
1 (866) 820-4834, log in to RCU online banking at www.redwoodcu.org, or contact our Member Service Center at 1 (800) 479-7928. If, at a later date, you wish to no longer receive overdraft services, you may change this authorization at any time.