Yes! For this to happen smoothly, the MICR line on the member check should include a 9 digit member base number, a 3 digit member loan suffix and a check digit (if applicable). In cases where the MICR line does not conform to those parameters, it still is possible depending a review of the MICR line scheme and programming changes. This would have a small cost involved. If your credit union is interested in beginning this offering, contact a client service representative who will review your current draft processing details.

 

Overdraft Protection is available to cover these drafts from a savings and another LOC loan.