Overdraft Protection

Overdraft Protection Options

GICU members can protect themselves from overdrafts using transfers from savings, other accounts and even lines of credit. Privileged Courtesy Pay is another form of coverage.

Privileged Courtesy Pay (PCP)

Privileged courtesy pay helps protect you against having your items returned in the event of an inadvertent overdraft of your account by giving you a reserve for emergencies or unexpected situations. There is no fee for having this privilege on your account; you are only charged if you use the service.

Eligibility requirements for PCP include:

Your consumer account (primarily used for personal and household purposes) has been maintained in good standing. 

What does an account in good standing look like?

  • Bringing any account balance to a positive balance within every thirty (30) day period, for a minimum period of 24 hours.
  • Not being in default on any loan or other obligation to Greater Iowa Credit Union.
  • Not being subject to any legal or administrative order or levy, including bankruptcy.
  • Being at least 18 years of age.
  • Account may not be dormant.
  • The member's address on the account must be valid.

You need to contact Greater Iowa in order to authorize us to cover every day debit and ATM card transactions.

Privileged Courtesy Pay Details