Overdraft Line of Credit
An overdraft line of credit is a credit line that will advanced funds into your checking account and is used to protect you from overdraft fees in the event you run out of money in your account.
It can be easy to accidentally overdraft when you have a busy lifestyle and multiple expenses to cover. Sometimes a backup line of credit is just what you need! With this type of credit advance, you won’t have to worry about costly overdraft fees if you exhaust the funds in your checking account.
We cover overdrafts from Checks, Automated Teller Machine (ATM) withdrawals, Automated Clearinghouse (ACH) transactions, and Point-of-Sale debit card transactions when you have opted in.
Apply now from your computer, mobile phone, tablet, or in person with one of our friendly loan officers. More questions? Contact Consumer Loans at 907-459-5970.
Fair and Affordable Terms for a Checking Overdraft Line of Credit
- Fixed interest rate (only on credit you advance)
- A $50 annual fee with no setup charges
- Affordable monthly payments on advances (3% of balance)
- $100 minimum advance (additional increments of $100 available)
- Limits ranging from $1,000-$3,000
"M.L. is my hero! Thank you for reversing the overdraft fee because my payroll direct deposit was delayed. This financial institution continues to astound me and serve my needs so well. Much obliged."- M.M.
A Business Overdraft Line of Credit is also available, with an annual fee of $100.
*Overdraft Protection Line of Credit (LOC) pays checks, Point-of-Sale (POS) debit card transactions, ATM withdrawals, and ACH transactions presented against your checking account when it is overdrawn. You must be at least 18 years of age, have qualified for an Overdraft Protection LOC, and be a member in good standing. You must also Opt-in for Overdraft Protection on debit transactions, using the opt-in form linked on this page if you want debit card transactions covered.
See the Overdraft Protection LOC loan disclosures provided at the time of completing your loan application for details on Interest Rate charges on credit advances. An Overdraft Protection LOC must be repaid according to the terms of your loan agreement.
Refer to our Pricing Guide (PDF) for credit union membership fees. Other loan fees and terms may vary, and will be disclosed at the time of the loan verbally and in the loan disclosures.
Spirit of Alaska pays overdrafts at our discretion and reserves the right not to pay.
You cannot have both Courtesy Pay and an Overdraft Line of Credit activated on a checking account.
Frequently Asked Questions
Where can I find the loan fees?
All fees are listed in our Pricing Guide. This guide is linked in the “More Info” section on every product that has applicable fees.
What do you mean by flexible overdraft setup options?
You can specify for funds from a savings account to transfer first, and then funds from your line of credit to transfer to your selected checking account. Or, you can decide to use your line of credit, and keep your savings account untouched.
How much will you lend?
Credit lines of $1000 – $3000 are available, on approved credit.
Can I skip a payment on an overdraft line of credit?
No, Skip-a-Pay is not available due to the nature of the line of credit.
- Where can I find the loan fees?