At times, unanticipated expenses or unforeseen problems can leave you with too little cash in your checking account. Having a check returned due to insufficient funds can be a costly, inconvenient and potentially embarrassing experience.
At Community Resource Credit Union, we do not encourage overdrafts. As always, we encourage you to manage your finances responsibly. However, we want to save you from the additional merchant fees and possible damage to your credit history that might result if a check is returned.
That’s why we provide Courtesy Pay, a special overdraft service for CRCU members.
Effective June 1, 2015 Courtesy Pay Limits Increased
We are pleased to announce that Courtesy Pay limits for checks, recurring debit card transactions and ACH debits have increased to $500 for members with a Free Checking account and to $700 for members with an Interest, Senior or Reward Checking account.
This increase in Courtesy Pay limits will also include everyday debit card transactions if you have opted into the Courtesy Pay program.
For Courtesy Pay consideration, your account is in “good standing” if you:
- Make sufficient deposits to bring your account to an end of-day positive balance at least once every 30 calendar days (including the payment of all credit union fees and charges)
- Avoid excessive overdrafts suggesting the use of Courtesy Pay as a continuing line of credit
- There are no legal orders, levies or liens against your account.
Please note that the amount of overdraft plus our Courtesy Pay Fee of $29.50 for each item will be deducted from your Courtesy Pay limit. If the item is returned, the Non-Sufficient Fee (NSF) of $29.50 will be deducted from your account. No interest will be charged on the overdrawn balance.
*Please refer to the Courtesy Pay Policy for additional details.
Locate your account type below and make note of the corresponding limit. If you have multiple accounts for your household, you may have a limit on all eligible accounts.
- Free Checking $500
- Interest Checking $700
- Senior Checking $700
- Reward Checking $700
The chart below shows the different ways you can access your Courtesy Pay limit and indicates whether or not this limit will be reflected in the balance provided.
|Access Points||Is my Overdraft Privilege available?||Does the balance provided include my courtesy pay limit?|
|Writing a Check||Yes||N/A|
|Debt Card (recurring)||Yes||N/A|
|Debit Card (every day)||Upon Request**||N/A|
|ATM Withdrawal||Upon Request**||No|
|Touch Tone Teller||No||No|
** Courtesy Pay will be made available for ATM or everyday debit card transactions upon your request. Call 281.422.3611, use our online Opt In Form, or visit one of our branches to arrange for your ATM and debit card coverage.
|Ways to Cover Overdrafts at CRCU||Example of Associated Fees*|
|Good account management||$0|
|Link to any CRCU Savings/Checking account||$2 Transfer Fee|
|QWICK Loan||14% APR*|
|Courtesy Pay||$29.50 for Each Item|
*APR = Annual Percentage Rate. These costs are provided only as examples. Please ask us about of specific products and fees.
An insufficient balance could result in several ways, such as: (1) the payment of checks, in-person withdrawals, ATM withdrawals, Debit Card withdrawals, or by other electronic means, as applicable; (2) payments authorized by you; (3) the return of unpaid items deposited by you; (4) the assessment of service charges; or (5) the deposit of items which, according to the Credit Union’s Funds Availability Policy, are treated as not yet available or finally paid.
We are not obligated to pay any item presented for payment if your account does not contain sufficient funds. However, if you maintain your checking account in good standing (defined as making regular deposits and bringing your account to a positive balance at least once every 30 days) and there are no legal orders outstanding, we may approve your reasonable overdrafts as a non-contractual courtesy. You may opt out of the service at any time, but you are responsible for any overdrawn balances at the time of opting out.
Normally we will not approve an overdraft for you in excess of the predetermined Courtesy Pay limit assigned to your account type. So as not to exceed your limit, you should note that the amount of the item plus the credit union’s standard Courtesy Pay fee
for each item will be deducted from the Courtesy Pay limit. We may refuse to pay an item for you at any time, even though we may have previously paid items for you.
You will be notified by mail or via e-mail if you are enrolled in e-Statements and e-Notices of any NSF items paid or returned that you may have. However, we have no obligation to notify you before we pay or return any item. The amount of any overdraft plus our standard Courtesy Pay fee(s) that you owe us shall be due and payable upon demand. If there is an item(s) paid by us on an account with more than one (1) owner on the signature card, each owner and agent, if applicable, drawing/presenting the item creating the overdraft, shall be jointly and separately liable for such overdraft plus our standard Courtesy Pay fee(s).
Community Resource Credit Union’s policy is to pay items from the smallest dollar amount to the largest dollar amount. Courtesy Pay should not be viewed as an encouragement to overdraw your account. As always, we encourage you to manage your finances responsibly. In the event you would like to have this service removed from your account, you can do so by calling 281.422.3611. You should note that your Courtesy Pay limit will not be reflected in your balance provided by a teller, at the ATM or through TouchTone Teller or Online Banking.
LIMITATION: Courtesy Pay is a non-contractual courtesy which is available to individually/jointly owned accounts in good standing for personal or household use. Community Resource Credit Union reserves the right to limit participation to one account per household and to discontinue this service without prior notice.