Dear Valued Member,
Greetings from your
Credit Union! As a value-adding service, we conveniently offer Overdraft Protection
Privilege (Courtesy Pay) to all members. An overdraft occurs when you do not have enough
money in your checking account to cover a
transaction, but we pay it for you as a courtesy. We can easily and conveniently cover
your overdrafts in two different ways:
1. Overdraft
Privilege (Courtesy Pay) comes with most checking
accounts. This program allows Space City CU to overdraw your checking account in
order to pay a transaction up to a predetermined limit. Currently, this can be used to
cover checks, debit card purchases, ATM withdrawals, and ACH transactions.
2. We
also offer Overdraft Transfers, such as a link to a savings account or line of credit
which may be less expensive than our Overdraft Privilege option. To learn more, ask us
about these plans.
*If you Opt-In to
the program we will authorize and pay overdrafts on the following types of
transactions:
• Checks and other
transactions made using your checking account
number
• Automatic bill
payments, ATM transactions, preauthorized ACH Debits and Debit Card transactions
*If you do not opt-in
we will not pay overdrafts for the following types of transactions without Courtesy Pay:
• ATM Transactions
• One-Time Debit
Card Transactions
We pay overdrafts at
our discretion, which means we do not guarantee that we will always authorize and pay any
type of transaction. If we do not authorize and pay an overdraft, your transaction will be
declined.
What fees will I be
charged if Space City CU pays my overdraft?
• We will charge
you a fee of up to $25 each time we pay an
overdraft.
• There is no
limit on the total fees we can charge you for overdrawing your account, but we discourage
abuse.
We greatly appreciate
you membership, and thank you for the opportunity to assist you with your financial needs.
Sincerely,
Space City CU
Questions on Courtesy Pay? Please visit our Courtesy Pay FAQ page.
For more information, please call 713-222-1244 or send
us an email.
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