Overdraft Line of Credit

Protection Against Accidental Overdrafts

An overdraft loan is a Line of Credit that is attached to your Checking Account. It protects you against accidental overdrafts and will be a safety net so that you don’t bounce checks, miss payments, or have your debit card declined.

Advances on the Overdraft Line of Credit are deposited into your Checking Account, up to your credit limit, as needed and when you need it the most.

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Why Is This The Best Loan For Me? 

Beach Municipal FCU's Overdraft Line of Credit features: 

  • Low, fixed interest rates.
  • Interest only accrues when you have a balance.
  • Customize how you want to pay your overdraft ~ from your Savings first and then your Overdraft Line of Credit, or vice versa.
  • No application fees.
  • No transfer fees.
  • No annual fees.

Overdraft Line Of Credit Benefits

An Overdraft Line of Credit offers many benefits:

  • Improve your credit — Using your line of credit responsibly and making timely payments can help you build or improve your credit score by creating a positive credit history.
  • Save you money — Instead of paying a fee per transaction, like traditional overdraft fees, you owe nothing unless the funds are advanced. Even then you’ll only pay interest on the amount you borrow.
  • Protect your financial reputation — In the event of an emergency or unexpected expenses, you’ll be able to pay your bills on time.

I want a different option. What else do you offer?

Learn about Overdraft Protection from your Savings Account.

Overdraft Line of Credit Rates

Personal Loan Rates
Effective Date: Monday, August 1, 2023
Type of LoanAnnual Percentage Rate*
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Unsecured Personal Loans 8.95% - 17.95%
Line of Credit Loans 8.95% - 17.95%
Overdraft Line of Credit Loans 9.95% - 17.95%
Share Secured Loans 3.00% above share dividend rate in effect at the time of loan
Certificate Secured Loans 2.00% above share dividend rate in effect at the time of loan

*APR=Annual Percentage Rate. All loans are subject to approval. Some restrictions may apply. Rates are subject to change without notice. Rates are accurate as of the effective date above. Relationship discounts may apply; however, a floor rate of 2.75% APR is in effect. Floor rate does not apply to Certificate or Share Secured loans. Rates, terms and conditions are subject to change and may vary based on credit score, qualifications and collateral conditions. Please contact us for details.

Credit Life and Credit Disability Insurance

With Credit Life and Credit Disability coverage, you’ll have peace of mind knowing you can:

  • Reduce your financial burden.
  • Protect your income, your collateral and your credit rating.
  • Receive coverage at home and at work.

While credit insurance is not required to obtain a loan, the policies will lessen the financial burden on your family. In the event of your death, Credit Life Insurance pays the balance of your loan. Credit Disability Insurance makes your loan payments, up to the policy maximum, if you were to become disabled by a covered sickness or accident.

For more information on how Credit Life and Credit Disability coverage can protect you, contact us at 757.333.7787 or through our secure Contact Us form.

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