Courtesy Pay
We understand. It happens to all of us. You make an honest mistake in your checkbook. You're a little short of cash 2-3 days before payday. Unusual or unforeseen circumstances pop up at just the wrong time. That's why Your Community Credit Union offers Courtesy Pay, an added member service that protects your personal checking account when an inadvertent overdraft occurs. We require no application or additional signatures.
WHAT IS COURTESY PAY?
Courtesy Pay is a new service that adds a measure of protection to your personal checking account. Courtesy Pay may cover your insufficient funds checks, up to your approved limit, for one low fee per covered overdraft transaction. That means, instead of returning a check to the merchant because of insufficient funds, the credit union may pay your check, saving you additional charges from the merchant collection companies, in addition to the credit union's insufficient fund fee. It saves you the embarrassment an inadvertent overdrawn check can cause. It also helps protect your credit rating.
HOW DOES COURTESY PAY WORK?
The Credit Union may honor overdrafts on your checking account up to a certain limit based upon your account type:
- Convenience Checking (S7) $1,000 Courtesy Pay limit
- Choice Checking (S8) $1,500 Courtesy Pay limit
- Platinum Plus Checking (S11) $2,500 Courtesy Pay limit
A Courtesy Pay fee equal to our Non-Sufficient Fund fee will be assessed for each item that draws your account negative. You then have up to 30 days to bring the account current, either through a direct deposit, transfer of funds, or a deposit at one of our branch offices.
WHAT IF I ALREADY HAVE OVERDRAFT PROTECTION?
If you already have our traditional overdraft line of credit, the overdraft protection will be activated in the order that you established. If there is no overdraft protection or your line of credit has been depleted, Courtesy Pay may pay your overdraft.
DO I HAVE TO APPLY FOR THIS SERVICE?
No. We require no applications or additional signatures. As long as you are a member in good standing, which includes A) You have been a member for at least 30 days; B) Making regular deposits to that account; C) Bringing the account to a positive balance at least once every thirty days; D) There are no legal orders outstanding against your account; and E) you do not have any loans with us that are more than 30 days past due, your Courtesy Pay protection remains activated. Courtesy Pay is a way for us to provide a higher level of service to our members by helping protect your account and reputation when an inadvertent overdraft occurs.
CALL US FOR MORE INFORMATION
We are happy to review Courtesy Pay and its features with you, along with giving you other options to add convenience and ease to your account. Please call us at 1-888-982-1400 or 269-982-1400.
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