MAKE WAY FOR COURTESY PAY
No one is perfect, especially when it comes to your finances. A simple mistake in your checkbook can make all the difference between your outstanding items clearing or items being returned on your account. At Healthcare Employees Federal Credit Union, we understand that mistakes happen. That’s why we offer Courtesy Pay, a service that allows us to pay an outstanding item against your account in the event your account becomes overdrawn.
WHAT IS COURTESY PAY?
Courtesy Pay is a new service that adds a measure of protection to your share savings and share draft checking account. Courtesy Pay may cover your insufficient funds checks and ACH’s up to $500.00 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 overdraft can cause. It also helps protect your credit rating.
HOW DOES COURTESY PAY WORK?
It covers your checks in the event of non sufficient funds. A maximum limit of $500 may be honored by the Healthcare Employees Federal Credit Union. A $30 fee will be assessed for each item that draws your account negative. You then have up to 15 days to bring the account current, either through a direct deposit, transfer of funds, or a deposit at one of our shared branch offices.
WHAT IF I ALREADY HAVE OVERDRAFT PROTECTION?
If you have established other overdraft protection methods, such as automatic transfer from your other accounts, we will always look to pay and overdraft by those other methods first before paying your overdraft utilizing Courtesy Pay and imposing a $30 fee for each item we pay.
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 having a checking account with us, you make regular deposits to that account, bring your account back to a positive balance regularly, and there are no legal orders against the account, your Courtesy Pay privilege remains activated.
HOW CAN I ACCESS COURTESY PAY?
Items maybe paid utilizing your Courtesy Pay funds up to the limits mentioned above for the following types of transactions:
- Preauthorized ACH Debit
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 (609) 951-0700 or toll free at (800) 624-3312.