Life happens! Gulf Credit Union understands that unexpected overdrafts occur from time to time – Overdraft Coverage can help.

Overdraft Coverage Options

The choice is yours. Consider these ways to cover overdrafts:

Service Cost
Overdraft Protection Link to Another Deposit Account you have at Gulf Credit Union1 $3 fee per transfer
Overdraft Protection Line of Credit1, 2 Subject to interest
Privilege Pay $30 Overdraft Fee per item.

1Call us at (409) 963-1191, email us at [email protected], or come by a branch to sign up or apply for these services; 2Subject to credit approval.

Overdraft Protection applies to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account or line of credit you may have at Gulf Credit Union for a fee or finance charge. Please note that overdraft lines of credit are subject to credit approval.

Privilege Pay allows you to overdraw your account up to the disclosed limit for a fee to pay a transaction. Even if you have Overdraft Protection, Privilege Pay is still available as secondary coverage if the other protection source is exhausted.

Please review the What Else You Should Knowsection included with this disclosure for other important information.

Transactions Covered with Privilege Pay Standard Coverage
(No action required)
Extended Coverage

(Your consent required on consumer accounts) *

If you would like to select Extended Coverage for future transactions:

·  call us at (409) 963-1191

·  complete the online consent form found at https://www.gecu.org

·  visit any branch

·  complete a consent form and mail it to us at 5140 West Parkway, Groves, TX 77619

·  e-mail us at [email protected]

Checks X X
ACH – Automatic Debits X X
Recurring Debit Card Transactions X X
Online Bill Pay Items X X
ATM Transactions   X*
Everyday Debit Card Transactions   X*


*If you choose Extended Coverage on your consumer account, ATM transactions and everyday debit card transactions will be included with the transactions listed under Standard Coverage. If you already have Privilege Pay Extended Coverage, it is not necessary to request it again. Business accounts automatically have Extended Coverage.

You can discontinue Privilege Pay in its entirety by contacting us at (409) 963-1191 or sending us an e-mail at [email protected].

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