Courtesy Pay
Effective August 16, 2010, only members who have "opted in" to Courtesy Pay will have coverage for ATM cash withdrawals and debit card transactions. If you do not opt in, we will be required to decline ATM and debit card transactions when you do not have enough money in your account to cover them.
Opt in to Courtesy Pay now so you'll have continuous protection.
Our Courtesy Pay program is a benefit for all Members with checking accounts (with additional benefits for Premier and Enhanced Members).
Courtesy Pay pays your checks and preauthorized debits and authorizes debit card purchases and ATM withdrawals when your account has insufficient funds.
Courtesy Pay helps you avoid the embarrassment and inconvenience of unnecessary merchant fees when an item is returned for insufficient funds. For example, when a check is returned, you may pay up to $70 in merchant fees and NSF fees charged for second presentments. With Courtesy Pay, your costs are $25 per item, saving you up to $45 per check.
Courtesy Pay is only accessed after all other account sources are exhausted, i.e. transfer from available funds in Savings or Overdraft Line-of-Credit.
Premier Members are covered to $750 by Courtesy Pay. Enhanced members receive up to $500 in coverage and Value Members get $300. (All allowable limits include Courtesy Pay fees.) There is a $25 fee per check covered. A Member has 15 days from the time each NSF is paid to deposit funds into their checking account for repayment to avoid $25 late fee.
This "opt in" requirement is the result of a new Federal Reserve rule to curb some financial institutions' abuse in charging fees.
The new rules do not apply to Courtesy Pay coverage on checks or automatic bill payments that you have set up to pay your mortgage, rent or utilities. We will continue to automatically provide overdraft services for these types of transactions. If you do not want overdraft services in these instances, please call the Credit Union.
Click here for Frequently Asked Questions about Courtesy Pay.