Tips for managing your checking account
We offer a variety of options to help you avoid overspending or to cover you in case you do.
Overview
As a credit union, our focus isn’t profit—it’s helping you succeed financially. And that includes helping you learn more about how to avoid fees.
Sometimes an unexpected life event or an occasional mistake can leave you short of funds. In these cases, RCU offers services to provide you a safety net if you accidentally overdraw your account.
Ways to help protect yourself from overdrawing your account
Email & Text Alerts
Set up alerts in online or mobile banking and receive a text message or email when your account balance is low.
Overdraft Transfers
Set up your savings and/or money market account to transfer funds to your checking in $100 increments in the event that you overdraft.
Free Financial Resources
Take advantage of free access to industry-leading financial education and resources, with tips for every step of your financial journey.
Additional Services
Overdraft Line of Credit
If you’re short on funds, pull from an overdraft line of credit to advance funds in $100 increments from your low, fixed rate loan to your checking.
Overdraft Pay Advantage (OPA)
This optional program provides a safety net for occasions when you don’t have enough funds to pay for a transaction—we’ll cover the payment to ensure it goes through.
Overdraft Transfers
Set up your savings and/or money market account to transfer funds to your checking account in $100 increments in the event that you overdraft.
Key features
- No fees.
- Easy, one-time setup for automatic transfers.
- Unlimited monthly transfers (as long as the “transfer from” account has at least $100 available).
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- Log in to online banking.
- From the Accounts menu, select Overdraft Transfer Settings.
- Select the savings and/or money market accounts in the order you’d like to use to cover any overdrafts.
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- Log in to mobile banking.
- Select Account Info, followed by Overdraft Settings.
- Select the savings and/or money market accounts in the order you’d like to use to cover any overdrafts.
Overdraft Line of Credit
An overdraft line of credit will automatically transfer funds to your checking account when you do not have sufficient funds to cover a transaction. Funds are transferred in $100 increments up to your established credit limit.
Because this is a loan, daily interest is charged on the outstanding balance. If there is no balance, no interest or fees are assessed.
Key features
- Low, fixed rates.
- $500 minimum line of credit.
- Pay no transfer or annual fees.
Rates effective March 27, 2023. All rates, terms and special offers subject to change. Certain restrictions apply.
Not a Member?
Begin your loan application. Review our Membership requirements below to determine if your are eligible.
You can become a Member of RCU if you meet any of the following:
- You live, work or own a business in the counties of Sonoma, Marin, Napa, Mendocino, Lake, San Francisco, Solano, or Contra Costa.
- You are an immediate family member of a current RCU Member.
- You work for a designated Select Employer Group.
Already applied in person or over the phone?
To check the status of your loan, view any loan conditions, or to upload any requested documents.
Overdraft Pay Advantage
Sometimes an unexpected life event or occasional mistake can leave your checking account short of funds. Our optional Overdraft Pay Advantage (OPA) program can cover you if you unexpectedly overdraw your account1.
RCU charges a $23 fee (see our Cost Recovery Schedule), which is lower than the industry average of $33. While a fee might seem inconvenient, this service can be a benefit to cover important payments when you need it
RCU does not charge Members more than 4 $23 fees per day on an account and does not charge daily fees or interest for the negative balance. After a transaction is paid, you’ll be asked to make a deposit to cover the negative balance in your account immediately, and no later than within 20 days.
Key features
- Convenience and protection if you overspend.
- Can provide payment to other institutions to help avoid incurring their late/return fees on large payments such as mortgages or rent.
- Choose OPA to cover only checks and electronic transfers (ACH), only debit card transactions, or all three.
- Next Day Grace option available to have fees reversed2.
Q: What amount is covered by Overdraft Pay Advantage and is it guaranteed?
A: The amount RCU will cover with Overdraft Pay Advantage varies and is based on account standing and history. Typically, RCU will cover up to at least $100 for an Overdraft Pay Advantage transaction, but this is not guaranteed. If your account is not in good standing or you have not made regular deposits into your account, we may not be able to extend Overdraft Pay Advantage services to pay your transaction.
RCU will consistently allow your account to go in the negative up to $5.00 without a fee. The maximum amount RCU will cover is $1,500 for personal accounts and $2,000 for business accounts.
Q: Are there any limits to the fees charged for Overdraft Pay Advantage?
A: Yes. RCU recognizes that unexpected events can occur and potentially result in multiple fees before you may become aware of the situation. For this reason, RCU does not charge Members more than 4 $23 fees per day on an account. In addition, RCU does not charge daily fees or interest for the negative balance.
- Check if Overdraft Pay Advantage is set up on your account
- Log in to online banking and from the Accounts menu, select Overdraft Pay Advantage, or
- Visit any branch or call us at 1 (800) 479-7928.
Q: OPA Next Grace fee reversals – Take action and qualify!
A: We understand that sometimes an unexpected life event or occasional mistake can leave your checking account short of funds. Our optional OPA program can cover you if you unexpectedly overdraw your account. When this happens RCU charges a $23 fee, as published in our Cost Recovery Schedule. You have an opportunity to have this fee automatically reversed with our Next Day Grace feature.
Q: How does Next Day Grace work2?
A: If you are opted in to OPA and you overdraw your account, we will send an alert to the email address listed on your account. If you make a deposit and have enough available funds at 11:00 a.m. Pacific Time the next calendar day to cover the overdraft amount plus any applicable fees, we will refund the OPA fee you were charged the prior day. We encourage you to make deposits through our mobile app or ATMs (available 24 hours), at any RCU branch, or through our shared branching network.
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1 Overdraft Pay Advantage can be used to pay your checks, automatic bill payments (such as Automatic Clearing House or recurring debit card transactions), and your everyday debit card transactions. When the service is used, a $23 fee is charged (up to the maximum 4 charges per day). After a transaction is paid, you’ll be asked to make a deposit to cover the negative balance in your account immediately, and no later than within 20 days. If your account is not in good standing or you have not made regular deposits into your account, we may not be able to extend Overdraft Pay Advantage services to pay your transaction.
2 Certain restrictions apply. RCU reviews transactions paid by Overdraft Pay Advantage the following calendar day at 11:00 a.m. Pacific Time for potential fee reversal (“Next Day Grace”). If, at time of Next Day Grace, you have enough available funds to pay all overdrafts along with any associated Overdraft Pay Advantage Fee, plus any and all other items and fees presented against your account at the time of processing, RCU will reverse the Overdraft Pay Advantage Fee. Any fee reversals will be posted after 11:00 a.m. Pacific Time at a time set at RCU’s sole discretion. If you do not have enough available funds to pay all overdrafts (and all other items and fees presented against your account as of the time of processing), the Overdraft Pay Advantage fee will not be reversed. Your available balance is the amount you have in your account at a particular time that is available for immediate withdrawal and reflects any holds for pending transactions. For additional details on the availability of your funds for withdrawal, please refer to your Membership Account Disclosure. Fee reversals are not guaranteed and are done at RCU’s sole discretion. RCU reserves the right to change the fee reversal program at any time without notice
Email & Text Alerts
Set up alerts on your account to receive notifications when your balance falls below a dollar amount you choose.
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- Log in to online banking.
- From the Alerts menu, select Add.
- Select Balance as the alert type, then enter the balance amount at which you’d like to receive an alert, frequency, and how you’d like to receive alerts.
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Maximum Protection
Q: What amount is covered by Overdraft Pay Advantage and is it guaranteed?
A: The amount RCU will cover with Overdraft Pay Advantage varies and is based on account standing and history. Typically, RCU will cover up to at least $100 for an Overdraft Pay Advantage transaction, but this is not guaranteed. If your account is not in good standing or you have not made regular deposits into your account, we may not be able to extend Overdraft Pay Advantage services to pay your transaction.
RCU will consistently allow your account to go in the negative up to $5.00 without a fee. The maximum amount RCU will cover is $1,500 for personal accounts and $2,000 for business accounts.
Q: Are there any limits to the fees charged for Overdraft Pay Advantage?
A: Yes. RCU recognizes that unexpected events can occur and potentially result in multiple fees before you may become aware of the situation. For this reason, RCU does not charge Members more than 4 non-sufficient fund fees related to OPA services per day on an account. In addition, RCU does not charge daily fees or interest for the negative balance.
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- Log in to online banking and click Accounts followed by Overdraft Pay Advantage.
- View your Overdraft Pay Advantage limit at the top of the page.
PPP Forgiveness Application Deadline
Congress passed The Economic Aid Act which changed the deferment period from 6 months post covered period to 10 months post covered period. For example, if your covered period ended June 30, 2021, under the new guidelines the earliest your first loan payment wouldn’t be due until April 2022, and you have until then to request forgiveness. Please use the following calculation to help you identify when your forgiveness will be due:
- PPP borrowers may select a covered period anywhere from 8 weeks to 24 weeks.
- RCU is automatically calculating your loan due date based on a 24-week covered period, if you intend on using a shorter covered period please inform us immediately as this will impact your due date.
- Your correct deadline will be reflected in your online banking account.
If all or part of your PPP loan is not forgiven, your first loan payment will be due the first of the following month after a decision is made by the SBA.
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