Overdraft Protection

What is Overdraft Protection?

Overdraft Protection is money (not in your checking account) that prevents you from overdrawing your account and incurring a $25 overdraft fee.  This money can be in a savings account or a checking line of credit.

Checking Line of Credit

Minnesota Valley's Checking Line of Credit (also referred to as Ready Reserve or L4) is protection that can save you hundreds of dollars in fees.  The Line of Credit is a loan that is ready to kick in should you happen to overdraw your account.  

Items to consider:

  • There is no advance charge
  • Advances are for only the amount needed
  • This is a loan you must repay
  • Minimum payment is $20 or 4% of balance
  • Your loan will not advance to pay another loan. 

Share Transfer

Share transfer will automatically advance the funds you have on deposit in a savings account at MVFCU.  Funds advance in $100 increments, there is a $2 charge for this transfer.

Pennies on the Dollar

The Checking Line of Credit is designed to save you, the member, money.  A Line of credit advance costs less than 4 cents per day on a $100 advance.  There is no minimum advance charge and it will only advance what's needed, APPLY TODAY.

No Advance Fee

Unlike some Banks & Credit Unions, our Checking Line of Credit doesn't come with an advance fee every time you use it.  You pay less than 4 cents per $100 per day.


It Pays to Bank Where You’re Part Owner®