Courtesy Pay Program Disclosure

It is U.S. Eagle Federal Credit Union’s policy to comply with applicable laws, rules and regulation, and to conduct business in accordance with strict safety and soundness standards.

U.S. Eagle automatically includes Courtesy Pay service to your checking account if you are eligible. The service only incurs a cost when you use it. This discretionary service allows U.S. Eagle to provide you top-level service by helping to protect your account and reputation when an inadvertent overdraft occurs. Courtesy Pay supplements your current overdraft transfers from your savings, other accounts or a Quick Cash Line of Credit which have no transfer fees.

Courtesy Pay is a discretionary service that may cover non-sufficient funds (overdraft/negative balance) that may result from:

  • The payment or non-payment of checks;
  • The use of debit or ATM cards at a point of sale (with required opt-in – see below);
  • Automated Clearing House (ACH) debits or other electronic transfers or other withdrawal requests by you;
  • Payments authorized by you;
  • The return of unpaid items that were deposited to your account;
  • Charging your accounts for our applicable service charges and fees; and
  • The deposit of items to your account which, according to our Funds Availability Policy are treated as not yet “available” or “finally paid.”

We are not obligated to pay any item initiated for payment against your account if your account does not contain sufficient collected funds. Rather than automatically returning, unpaid, all non-sufficient funds items that you may have, if your eligible account type has been:

  • You have been a member for at least 90 days;
  • You are over 18 years of age;
  • Have a minimum balance of $500.00 for the last 90 (ninety) days prior to time of eligibility;
  • And, maintain your account “in good standing” which includes but is not limited to:
    • Continue to make deposits consistent with your past practices;
    • You are not in default on any loan obligation to us;
    • You pay your outstanding overdraft (negative) balance, including our fees, timely or on demand, and
    • Your account is not the subject of any legal or administrative order or levy,

we will consider, without obligation on our part, approving your reasonable overdrafts up to your assigned Courtesy Pay Limit.

Eligible Checking Account Types: This discretionary service is limited to personal checking account types: USave Checking, Value Checking, and Benefits Plus Checking and only one (1) overdraft limit per tax identification number (SSN).

Limits and Fees: The limits and fees on accounts will be:

  • $500 per checking account or
  • $1,000 per checking account with membership over five (5) years
  • The fee per overdraft transaction is the NSF/OD fee currently posted on U.S. Eagle’s website and Fee Schedule. Typically, we will charge our current NSF fee whether we approve an overdraft item for payment or return it unpaid.

Our NSF/OD fees will be included in and count against your assigned Courtesy Pay limit of $500 or $1,000. Whether your overdrafts will be paid or not is at our sole discretion and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing as described above, or if you have too many overdrafts. We may refuse to pay an overdraft for you at any time, even though your account is in good standing and even though we may have previously paid overdrafts for you. You will be notified by mail of any non-sufficient funds 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 overdrafts including our fees that you owe us shall be due and payable immediately. If there is an overdraft 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 severally liable for such overdrafts including our fees.

ATM and One-Time Debit Card Transactions – We do not authorize or pay overdrafts for ATM or one-time debit card transactions under our discretionary Courtesy Pay Program. If you want U.S. Eagle to authorize and pay these transactions you must OPT-IN to this portion of the program. Our current NSF/OD fee will be assessed when an overdraft is authorized and paid. Please contact us for assistance in completing the OPT-IN using the 4 ways below: (You may opt-out at any time too.)

  • Opt In to CourtesyPay using Online Banking
  • Download the Courtesy Pay Form
  • Visit any of our branches
  • Phone us at 505-342-8888, or toll-free at 888-342-8766.

You may choose at any time not to participate in our Courtesy Pay Program. Please contact as stated above and we can explain what the Opt-out means and the potential consequences for you.

You must restore any amount by which your account is overdrawn as soon as possible or upon our demand. If you do not pay, you agree that we can cover the amount of the negative balance from any other U.S. Eagle account in which you have an interest under our Right of Offset. If we cannot recover that amount exercising our Right of Offset, our right to recover collection costs applies. If the overdrawn (negative) balances are not repaid within 45 days, additional negative credit reporting may occur.

If you need help: Overdrafts should not be used to pay ordinary or routine expenses and you should not rely on overdrafts as a means to cover these expenses. If at any time you feel you need help with your financial obligations, please contact U.S. Eagle at 505-342-8888 or toll free at 888-342-8766.

ALWAYS A DISCRETIONARY SERVICE: Our Courtesy Pay Program does not constitute an actual or implied agreement between you and U.S. Eagle. Nor does it constitute an actual or implied obligation of or by U.S. Eagle. Our Courtesy Pay Program represents a purely discretionary courtesy, service or privilege that we may provide to you from time to time and which may be withdrawn or withheld by us at any time without prior notice or reason or cause.

 

Revised 02/23/2015

 

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