What is FAAst Draw Overdraft Privilege?
FAAst Draw Overdraft Privilege is a new service that adds a measure of protection to your personal checking account. FAAst Draw may cover your insufficient funds , up to your approved limit, for one low fee per covered overdraft transaction. That means, instead of returning a check to the merchant because of insufficient funds, the credit union may pay your check, saving you additional charges from the merchant collection companies, in addition to the credit union's insufficient funds fee. It saves you the embarrassment an inadvertent overdrawn check or returned eft can cause. It also helps protect your credit rating.
How Does FAAst Draw Overdraft Privilege Work?
Overdrafts on your checking account, up to a limit (including the amount of the overdrawn item(s) and the FAAst Overdraft Privilege fee(s)) may be honored by the FAA Federal Credit Union at our discretion. A $30 fee will be assessed for each item that draws your account negative. You then have up to 30 days to bring the account current, either through a Direct Deposit, transfer of funds, or a deposit at one of our branch offices.
Do I have to apply for this service?
No. We require no application or additional signatures. As long as you are a member in good standing which includes having a checking account with us for at least 60 days, you have Direct Deposit into that checking account, you have no delinquent loans, bring your account back to a positive balance regularly, and there are no legal orders against the account, your FAAst Draw Overdraft Privilege remains activated. This non-contractual courtesy of paying overdrafts requires no accountholder action. It is not a loan. No additional agreements need to be signed, and it costs nothing unless the privilege is used - by initiating checks, electronic funds transfers, or other payment or withdrawal requests for more than is on deposit in the account. We will send you a notice each time an overdraft occurs.
How much is my FAAst Draw overdraft limit?
Your overdraft limit (the total amount you can be negative at any one time), is set by FAA Federal Credit Union, based on your account type.
What if I already have overdraft protection?
If you already have our traditional overdraft protection, the overdraft protection will be activated in the order that you established it. If there is no overdraft protection or your overdraft protection has been depleted, FAAst Draw Overdraft Privilege may pay your overdraft.
Payroll Deductions. If you are employed, you can enjoy the convenience and peace of mind of automatically paying your FAA FCU loans with Payroll Deduction. Payroll and Automatic Deductions save you time, postage and worry! 
Audio Response (AMI). Enjoy around the clock access to all of your FAA FCU accounts from anywhere a touch-tone phone is available. Through AMI, you may perform various inquiries, check the amount of your payroll deposit and even transfer funds from one sub-account to another. AMI is available 24 Hours and may be accessed by calling (901) 366-5008 or toll-free (800) 960-5008 . It’s FAAst and it’s free! 