What is one aspect that a credit union must include in its policy regarding accounts overdrafts?

The correct answer highlights an essential regulatory requirement regarding overdrafts in credit union policies. Specifically, having a time limit of 45 calendar days for repayment ensures that there is a clear and manageable timeframe during which members are expected to address their overdrafts. This not only promotes responsible borrowing but also aligns with sound lending practices designed to minimize the risk for the credit union while providing a structured approach to managing overdraft situations.

Establishing this timeframe can help members understand their obligations, potentially preventing prolonged negative balances that could affect their financial well-being. Furthermore, regulations often mandate guidelines for overdrafts to protect consumers, and having a specific repayment period serves as a part of those protections.

While other options propose various requirements—such as needing personal approval from loan officers or allowing longer repayment periods—these suggestions do not reflect the typical or regulatory standards for managing overdrafts in a way that promotes both member responsibility and operational efficiency for the credit union.