Member Privilege1 is a discretionary overdraft service provided to Bangor Federal members with an active checking account. This service may be available for use 30-days after the checking account has been opened. To utilize this service, you don’t have to sign anything, just have an account that is listed in “good standing2” as defined by the Credit Union. Once activated, you are able to take advantage of the Member Privilege product and all its benefits.
- An extra $500 limit attached to each of your checking accounts that you may have with the credit union (Bangor Federal reserves the right to limit participation to one account per household).
- A 30-day grace period to bring your account back to a positive end-of-day balance.
- No additional cost associated with having the product available to you unless you use it. When you do use Member Privilege, you are charged an overdraft fee of $28 for each item.
- Multiple ways to access your Member Privilege as seen here:
| Access Points | Is my Member Privilege available? | Does the balance provided reflect my Member Privilege limit? |
|---|---|---|
|
Teller |
Yes |
ON REQUEST |
|
Writing a Check |
Yes |
N/A |
|
Debit Card (recurring) |
Yes |
N/A |
|
Debit Card (everyday) |
No3 |
N/A |
|
ATM Withdrawal |
No3 |
No |
|
ACH-Auto Debit |
Yes |
N/A |
|
iTalk Banking |
No |
No |
|
Online Banking |
No |
No |
1Member Privilege is a registered trademark of Pinnacle Financial Strategies. Overdraft Privilege service will be made available for ATM or everyday debit card transactions upon your request. Call 207-947-0374 or visit one of our branches to arrange for your ACH, ATM and debit card coverage.
2For Member Privilege consideration, your account is in "good standing" if you, 1) make sufficient deposits; 2) bring your account to a positive end-of-day balance at least once every 30 calendar days (including the payment of all Credit Union fees and charges); 3) avoid excessive overdrafts suggesting the use of Member Privilege as a continuing line of credit; and 4) have no legal orders, levies or liens against your account. Bangor Federal reserves the right to limit participation to one account per household or to suspend, revoke, or discontinue this service without prior notice.
3Please note that your Member Privilege limit may be accessible at an ATM, or through a POS transaction upon your request. The limit will not be included in the balance provided during an inquiry.
Checking Accounts
At Bangor Federal, our members come first. With several options to choose from, including Premium & Plus Checking with top tier rewards, you can have the checking account that best suits your lifestyle.
