Overdraft Authorization Information Overdraft Authorization Information

What You Need to Know about Overdrafts and Overdraft Fees (Regulation E)

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in different ways: 

1. We have Regulation E protection if you opt-in.
2. We have Founders Privilege if you are eligible and opt-in.
3. We also offer overdraft protection plans, such as a link to a savings account, which may be less expensive than our overdraft practices. To learn more, ask us about plans or learn more here.

This notice explains our Regulation E overdraft practices. 

We do not authorize and pay overdrafts for the following types of transactions unless you ask us to (see below): 

• ATM transactions
• Everyday debit card transactions 

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. 

If we do not authorize and pay an overdraft, your transaction will be declined. 
 

What fees will I be charged if Founders pays my overdraft? 

Under our Regulation E overdraft practices:

• We will charge you a fee of up to $32.00 each time we pay an overdraft if the item is greater than $3.00.
• The daily fee limit is $160.00. 

There is no limit on the total fees we can charge you for overdrawing your account. 

You have the right to revoke your opt-in to Regulation E by sending us a Secure Message in Founders Online, calling 800-845-1614 or visiting a Founders Office.
 

What if I want Founders to authorize and pay overdrafts on my ATM and everyday debit card transactions?

If you want us to authorize and pay overdrafts on ATM and one-time Debit Card transactions, complete a new form in office, make your selection online or call 800-845-1614. 

*This overdraft practice does not apply to account types that are not offered a Debit Card as described in the Membership Agreement.
Revision: 5003-2025-04

What You Need to Know about Founders Privilege

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. We can cover your overdrafts in different ways: 

1. We have Founders Privilege if you are eligible and opt-in.
2. We have Regulation E protection if you opt-in.
3. We also offer overdraft protection plans, such as a link to a savings account, which may be less expensive than our overdraft practices. To learn more, ask us about these plans. 

This notice explains our Founders Privilege practices. See the Founders Privilege Disclosure for full terms and conditions. 

If you are eligible, and opt-in, Founders Privilege enables us to authorize and pay overdrafts for the following types of transactions:

• Checks;
• Individually authorized ACH transactions; and
• Recurring ACH/debit card transactions. 

We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. 

If we do not authorize and pay an overdraft, your transaction will be declined. 
 

What fees will I be charged if Founders pays my overdraft? 

Under our Founders Privilege practices: 

• We will charge you a fee of up to $32.00 each time we pay an overdraft if the item is greater than $3.00.
• The daily fee limit is $160.00. 

There is no limit on the total fees we can charge you for overdrawing your account. 

You have the right to revoke your opt-in to Founders Privilege by sending us a Secure Message in Founders Online, calling 800-845-1614 or visiting a Founders Office.

*See the Founders Privilege Disclosure for full terms and conditions.
Revision: 4344-2025-04