Credit Union Overdraft Protection | No Non-Sufficient Funds (NSF) Fees Skip to main content

Nutmeg membership keeps getting better.

Great news, we are eliminating fees!

Nutmeg State Financial Credit Union is eliminating the Non-Sufficient Funds – Returned Item Fee and Overdraft Transfer Fee effective September 7, 2022.

Simply put, we believe prosperity for all people is possible through inclusive and equitable access to resources – and removing barriers to building wealth is key. 

So, this is what you can expect as of September 7, 2022: 

No fee will be charged when:

  • an electronic transaction is declined due to non-sufficient funds
  • an item is returned as unpaid due to non-sufficient funds
  • funds are automatically transferred between your Nutmeg State FCU checking and savings accounts to cover a withdrawal

Note: Items that are paid via our Privilege Pay Overdraft service will be charged $35 per item.

What does this mean for you? 

When an item is presented for payment and your checking account does not have sufficient funds available to pay it, the result is either an NSF (item returned) or an overdraft (item paid from alternate source of funds). Effective September 7, 2022:

  • We will no longer charge you when we return an item unpaid 
  • We will no longer charge you when we transfer funds from other accounts to pay an item 
  • We WILL continue to charge you $35 each time we pay an overdraft from your privilege pay service

Making changes to our overdraft and non-sufficient funds fee policies is another example of how we’re helping members with the opportunity to better manage cash flow, course correct when needed and support financial well-being. 


We have answers. You can find more information here, including additional ways to manage your money. You’re also welcome to contact us by: 

Nutmeg State Financial Credit Union continues to stay true to our mission and values, stay tuned for other exciting updates to your financial services!


Here is some additional information:

Linked Overdraft Protection Account: 

Link a Nutmeg Savings, Money Market or other checking account to your primary account to cover overdrafts. In the event your account is overdrawn, funds are transferred to cover the deficit at no cost.

Balance Alerts: 

Our online banking services offer multiple methods to monitor your balances, as well as send you alerts when your account reaches a target balance.

Overdraft Line of Credit: 

If you have any Line of Credit with Nutmeg, we can transfer funds up to your available credit limit to cover overdrafts. 

Financial Resources

You can get valuable financial education information at the National Credit Union Administration website.  The following link will direct you to their Financial Literacy & Education Resource Center.