As of May 15, 2020, we will no longer originate new Overdraft Lines of Credit to customers. However, any existing Overdraft Lines of Credit will remain open.

Whenever you dip into your Overdraft Line of Credit, we’ll calculate the interest owed from the day the transaction amount is posted until the balance is paid in full. There is no interest grace period for transactions that post against your Overdraft Line of Credit. Interest owed will be calculated by:

  • Multiplying the daily ending balance on your Overdraft Line of Credit by the daily periodic rate.
  • Daily periodic rate is calculated by dividing the current APR by 365 – or 366 in a leap year.
  • At the end of the month, we’ll add all of the interest owed amounts for the days that you held a balance in your Overdraft Line of Credit.
  • Then we deduct that amount – the finance charge – from your 360 Checking balance.