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Columbia CU Introduces Overdraft Kindness

June 01, 2023

In line with our core value of supporting the financial wellness of our members and the community at large, we’ve restructured our overdraft policy to absorb the burden of operating fees typically passed on to members. Our modern approach to overdrafts replaces the typical per-item fee found at most banks with Overdraft Kindness—a one-time $20 fee (not per-item) charged during our day-end processing on any day a transaction(s) brings your account negative. Our new kinder, gentler program doesn’t stop there. Our Overdraft Kindness Oops! feature means there’s no fee if your overdraft(s) is $20 or less. Because hey, we get it. Mistakes happen. And, for times when you’re overdrawn by more than $20, avoid the fee with our Overdraft Kindness Deposit Grace feature. Just bring your account current by 6:30 pm PT the same day as your overdraft(s). Typical fees for nonsufficient funds, overdraft protection transfer, and returned deposited items have also been brought down to $0.

Why the change? Because overdrafts happen, and charging more of what you already don’t have doesn’t help anyone. Overdraft Kindness operates in line with our core value of financial wellness, focusing on progressive, people-centered strategies to bring members’ accounts positive in the short term while accessing resources to achieve future financial success.

How Overdraft Kindness Works

Overdraft Kindness allows a member to avoid a potential one-time $20 fee for the day a transaction took their account negative if their account is brought positive by 6:30 pm on the day of that overdraft.

Overdraft Kindness Table
*No Overdraft Fee if, as of our day-end processing, the day’s withdrawal(s) don’t overdraw (or further overdraw) the current balance by more than $20.
No Overdraft Fee if deposit(s) or transfer(s) are made by 6:30 pm on the same day of the overdraft(s) to bring the current balance to at least $20 or less overdrawn.

Ways to Avoid an Overdraft

Avoiding an overdraft fee is all about bringing a balance back positive during a grace period before our day-end processing. If a transaction takes an account negative during the day, you can avoid a one-time $20 fee if deposit(s) or transfer(s) are made by 6:30pm on the same day of the overdraft(s) to bring the current balance positive (or not negative by more than $20), or, as of our day-end processing, the day’s withdrawal(s) don’t overdraw (or further overdraw) the current balance by more than $20.

Make a Deposit – Deposit funds in a branch or ATM or make a mobile deposit with the app or a business remote deposit; make a same-day ACH.

Make a Transfer – Transfer funds from another account in a branch or with the app; phone-a-friend for a Pay People member-to-member transfer.

How to Avoid Overdrafts in the Future

We have a number of strategies to help you achieve future financial success by avoiding overdrafts.

Overdraft Protection – Set up Overdraft Protection to transfer funds from linked accounts when your account is overdrawn. Just call 360.891.4000, visit a branch, or use the Digital Assistant to get started.

Balance Alerts – Set up weekly account updates or notifications when your balance dips below a certain threshold through Online Banking: Additional Services > Alerts & Notifications

Financial CoachingSchedule an appointment to chat with our certified financial coach to talk about setting up your future for financial success.

Overdrafts happen. Charging more of what you already don’t have doesn’t help anyone. That’s why Overdraft Kindness eliminates fees to help smooth the path when finances get rocky.