New Federal Reserve regulations effective July 1, 2010, require all financial institutions to receive approval from account holders to charge a fee for the payment of overdrafts resulting from ATM transactions or everyday debit card transactions. Please be advised that this new regulation does not affect accounts at Suncoast Schools FCU because the credit union’s courtesy pay program does not allow overdrafts resulting from ATM transactions or everyday debit card transactions. These transactions are declined if funds are not available. Therefore, no action is required on the part of Suncoast Schools FCU members.

The Suncoast Schools FCU's Courtesy Pay Program does pay overdrafts resulting from check or ACH debit transactions on qualified accounts enrolled in our Overdraft Privilege Program. When this situation occurs, a fee is charged. Enrollment in Overdraft Privilege is automatic for qualified accounts; however, a member may opt out of the program at any time by contacting the credit union. For more information about Overdraft Privilege please see below.

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At Suncoast Schools Federal Credit Union, we know that from time-to-time, for a variety of reasons, members might find themselves with a bounced check and overdrawn account. That’s why we’ve made available several options to protect your account and your good name. It’s important to establish a strong line of defense for unexpected circumstances.


Any share account or money market account can serve as back-up to your checking account.

Available for qualified members, provides an unsecured line of credit that can be drawn upon without approval. Not only can this account provide overdraft protection, advances may also be requested in person, by phone, mail or writing a personal line draft.

Available for qualified members, your credit card can provide overdraft protection, in addition to offering you the convenience of making purchases and payments with the power of Visa.


Suncoast also offers Overdraft Privilege as protection against bounced checks. The difference, however, is that while members will not be charged a merchant fee for a bounced check, they will still be charged the Suncoast non-sufficient funds (NSF) fee.

Suncoast offers Overdraft Privilege as a discretionary courtesy and not as a right or obligation. With Overdraft Privilege, when checks (excluding checks presented for cash at a teller window) or ACH debits are presented and the funds are not available in the regular checking account or the member’s other designated overdraft sources (savings account, money market account, line of credit or credit card), Suncoast will honor the check(s) by bringing the checking account to a negative balance up to $700 or 10 items per month. Members who exceed these limits will be denied access to Overdraft Privilege. We will mail a special notice advising the member that his or her account has been brought to a negative balance to pay the item(s). To make sure that this service remains available, the account must be brought to a positive balance within 30 days.

If you overdraw your account you will be charged the standard NSF (non-sufficient funds fee) on each item, however you will not be charged a fee by the merchant/payee, because with Overdraft Privilege the check is not returned to them, it is paid by Suncoast. Multiple fees will be charged if multiple overdrafts occur on the same day. The NSF fee along with any and all fees and charges (as set forth in our Fee Schedule and Account Agreement and Disclosure), will be deducted from the foregoing limit. In other words, paid items, fees, and charges shall not exceed the applicable limit.

Overdraft Privilege should be used as a last resort to protect your checking account and good name. It is more expensive than Suncoast’s other overdraft protection services, and should be used only if/when other alternatives are not available. All Suncoast members in good standing are automatically enrolled in Overdraft Privilege once account has been open for 90 days.