No Debit Card Overdraft Fees
To help you manage your money--without fees--all Westerra Credit Union checking accounts are set up so that If there are not funds in your checking account (or line of credit) to cover a debit card or ATM transaction, the transaction will simply be denied.* You will not have to worry about paying any fees. You can then choose to use another payment option.
New federal regulations in 2010 stated financial institutions could no longer charge a fee, without your consent, if you overdraw your checking account using a debit card or an ATM. Most other financial institutions ask their customers to sign up for, or “opt-in” to, checking overdraft programs—they are asking customers permission to charge them a fee.
At Westerra Credit Union, our approach is to help members better manage their checking accounts by not offering an “opt-in” program, not charging a fee and helping save some members a significant amount of money. This saved our members $3 million last year compared to Colorado banking institutions! It can also help members earn a better credit score. Compare Westerra Credit Union checking with bank checking accounts.
*When you purchase gas with your debit card, you may have noticed that typically only $1 is withdrawn immediately from your account. Please consider the full gas amount you purchased before making other transactions with your debit card so that you do not inadvertently overdraw your account.