Bank the way you live

The best way to avoid overdrafts is to keep an accurate transaction register and balance it to your monthly statements.  Be sure to record automatic payments, bill pay transactions, check card purchases and ATM withdrawals.  You can use helpful resources such as Online and Mobile Banking or Telephone Teller for transaction information.  However, these resources do not reflect outstanding transactions that have not yet been posted to your account.

You must remain current for one business day, or 24 hours, for the system to recalculate the days overdrawn.

“Bring the account current” means to make a payment into your account to pay any overdrawn amount.

The Courtesy Pay service is discontinued if the share is not brought current within 30 days.  If the negative balance is not resolved within 45 days, the account is restricted and the negative balance will be recommended for charge off.  The balance owed, including any and all fees, will be reported to Chex Systems.

The clock begins with the date of the first overdraft.

The system will generate a notice for each paid item that overdraws the Share Draft Checking Account, showing that the item has been paid through Courtesy Pay.  If you have an email address on file, we will email the notice to you.  Otherwise, the notice will be printed and mailed.  Additional warning or collections letters will be generated if the account remains overdrawn according to the following schedule:   Paid Overdraft Notice – Day of Occurrence 1^st Warning Letter – 15 Days 2^nd Warning Letter – 30 Days

Any overdraft amount, plus our per-item Courtesy Pay fee(s) is due immediately.  Any deposits a member makes will first be applied to any overdrawn balance.

No.  The system does not show the Courtesy Pay Limit.  Therefore, employees cannot verify its availability for a merchant.

We post transactions in the order set out in our Membership Account Agreement.

We authorize and pay transactions using the available balance in your account.  The available balance is the ledger balance (collected funds) minus any debit card holds.  As such, the available balance does not include any deposited funds on hold.  We may place a hold on deposited funds in accordance with our Membership Account Agreement and our Funds Availability Disclosure.  If the funds in the available balance are not sufficient to cover a transaction, any available overdraft protection and/or Courtesy Pay may be used to authorize and pay a transaction.  We will also place a hold on your account for any authorized debit card transaction until the transaction settles (usually within two business days) or as permitted by payment system rules.  In some cases, the hold may exceed the amount of the transaction.  When the hold ends, we will add the funds to the available balance.  If your account is overdrawn after such held funds are added to the available balance and the transaction is posted to the available balance, an overdraft fee may be assessed.

• Courtesy Pay would not apply to the below items:  
  • Share Drafts presented for cash by the account holder at an Access Center
  • Member check presented by Payee at an Access Center
  • ATM Transactions
  • POS (PIN based) Transactions
  • Bill Payer Transactions
  • Online Banking Transactions
  • Telephone Teller Transactions
  • ACH/Pre-Authorized Drafts presented on an account other than the Share Draft Checking Account
  • Electronic debit transactions presented on an account other than the Share Draft Checking Account

No.  It is a non-contractual courtesy that we extend to our members who maintain their Share Draft accounts in good standing.  When the feature is used, it results in a negative or overdrawn account.  This feature is discretionary on the part of the Credit Union.  The words “DISCRETION” and “DISCRETIONARY”, however used, mean there is NO PROMISE TO PAY.  Courtesy Pay is not guaranteed.  Courtesy Pay can be taken away at any time the Credit Union determines the account is no longer in good standing.

The Courtesy Pay feature does not cost members anything unless they use it.  There is no regular monthly fee for the service.  The only time a member will incur a cost for the Courtesy Pay feature is when they use it (for example, if an item is paid by the Credit Union which causes the member to overdraw the account).   A fee may be charged for EACH item presented and paid.  For example, if two items are presented to the Credit Union for payment on the member’s account, they will have to repay the Credit Union for the amount of the two paid items, PLUS two Courtesy Pay fees.

Yes, any account owner may opt-out at any time by notifying the credit union either in person, by email or by calling the Call Center at 215-612-5900.

No, any party on a joint account may make this decision and it applies to all joint account owners.

If a member has established other overdraft protection methods, such as a Line of Credit or a transfer from their Primary Savings Account, we will always look to pay any overdraft by those methods first before paying an overdraft using Courtesy Pay and imposing the Courtesy Pay fee.

Yes, all members that have a Share Draft Checking Account are automatically set up with overdraft protection from their Primary Savings Account.  If the member has an established Line of Credit, the Line of Credit may also be used as an overdraft option.  If both a Line of Credit and a Primary Savings Account are set up as overdraft options, the default order is to pay items first from the Line and Credit and then from the Primary Savings Account, however the member has the option to change this order at any time.  Regardless of the order, Courtesy Pay is always used last.   The Courtesy Pay feature can be used at the Credit Union’s discretion, according to our overdraft policies which include a maximum dollar limit per member.