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Important Share Draft/Checking Account Holder Information View and print Opt In Agreement As you may have heard, the Federal Reserve Board recently approved a new regulation regarding overdraft services on your checking account. In the coming months, the credit union and other financial institutions must offer you the ability to make decisions about overdraft services for transactions made with your debit card. An overdraft occurs when you make a purchase, ATM transaction, ACH transaction or write a check, but do not have enough money in your account to pay for it. In the past, and for a fee, MPO’s overdraft service has covered you when you became overdrawn. Under the new rules, we must first get your permission to apply our overdraft services before your can be charged an overdraft fee for everyday debit card and ATM transactions. To grant us this permission, you must opt in (or agree) to the service. The rule also gives you the flexibility to change your mind: if you opt in, you may cancel at any time; if you do not opt in, you can do so later. If you do not opt in, then our standard overdraft services will no longer apply. Your transaction will typically be declined when you do not have enough money in your account, but you will not be charged an overdraft fee. Please tell us if you want to keep this convenient coverage on your checking account. If you do not want to keep the coverage and you do not have enough money available in your account to cover a purchase, your everyday debit card or ATM transaction will be declined. If you have questions, please visit any of our branches or call a Member Services Representative at any MPO Branch.View and print Opt In Agreement (click here - document is pdf format and can be opened using Adobe or PrimoPDF) |
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Your savings federally insured to at least
$250,000 and backed by the full faith and credit of the US Government Send mail to
admin@mpofederal.org with
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