Overdraft Notice
Important Update to Your Overdraft Protection Program
Dear Member,
As previously shared on September 1st 2025, we will be updating the dollar limit that’s applied to your Overdraft Coverage (“overdraft limit”).
What’s Changing?
Beginning October 1, 2025, our overdraft protection limits will be standardized to three fixed tiers of $100, $300, and $500. These limits will replace the current variable overdraft limit you have. The assigned overdraft limit will be based on your previous months’ total deposits, as outlined below:
| Monthly Depost | Overdraft Limit |
| $300 - $699 | $100 |
| $700 - $1,199 | $300 |
| $1,200 and above | $500 |
Your current overdraft limit will be reviewed and adjusted to one of the three new tiers, including the possibly of an overdraft limit being adjusted to $0.00.
If you require an overdraft limit greater than $500, you will have the option to apply for a Personal Line of Credit. A Personal Line of Credit is a flexible borrowing option that can be linked to your checking account to provide automatic overdraft protection. When your account balance is insufficient to cover a transaction—such as a check, debit card purchase, or electronic transfer, the credit union can automatically advance funds from your line of credit to cover the shortfall. A Personal Line of Credit requires you to complete a credit application, which will be subject to credit approval. Applications are simple, and our team is here to help you find the right solution.
If you frequently use overdraft services, we encourage you to explore our financial wellness resources or speak with a representative about alternative solutions.
Why the Change?
This update reflects our dedication to:
- Enhancing transparency and predictability in overdraft coverage.
- Reducing the risk of unanticipated fees and ensuring compliance with federal regulations.
- Offering alternatives that better support your financial wellbeing, including access to credit products with clear terms and disclosures.
Questions?
Please call or text us at 704-636-0643 or visit us at 850 Harrison Road, Salisbury, NC. We’re here to help you understand your options and make informed financial decisions. Thank you for being a valued member of Lion’s Share Federal Credit Union.
