Overdraft Protection Loan

With a METRO Federal Credit Union Checking Account, you don’t have to worry about the possibility, or the high cost of a returned check. If there are not enough funds available in your checking account to clear a check, we will automatically transfer available funds from you savings account in order to clear the check.

However, if the funds in your checking and savings account are not sufficient to pay the check, we will create an overdraft loan advance for you, up to your credit limit. Then, deposit your loan advance into the checking account and clear the check. This is done automatically and you are sent a notice of the transfer whenever it occurs.

When are payments Due? If a loan advance is created, then your loan payment is due on the last day of each month. For loan advances completed after the 15th of each month, the initial payment is due the following month. If you maintain an overdraft loan balance then your payment will be due on the last day of each month for at least the minimum monthly payment $100.