The only method of overdraft protection available to PenFed members is via our Overdraft Line of Credit (OLOC) account. When needed, the OLOC advances the exact amount needed to the checking account to cover an overdraft. There are no per-advance fees; the member only pays the amount of finance charge that accrues between the date of the advance and the date it is paid.
If you already have an Overdraft Line of Credit with Post Office Credit Union, this loan will automatically move to PenFed at the same terms and conditions and will be linked to your new PenFed Access America Checking account.
*Actual amount of credit line will be determined in accordance to individual’s credit qualifications.