An Extra Level of Protection for Your Checking Account
Life happens! Christian Community Credit Union understands that unexpected overdrafts occur from time to time. Overdraft Protection can help.
What are my Overdraft Protection options?
The choice is yours. Consider these ways to cover overdrafts:
|Overdraft Protection Link to Another Deposit Account you have at Christian Community Credit Union1||No fee per transfer|
|Overdraft Protection Line of Credit1,2||Subject to fees + interest|
|Courtesy Pay||$27 courtesy pay fee per item.|
- Contact the Credit Union to sign up or apply for these services.
- Subject to credit approval.
What is Overdraft Protection?
Overdraft Protection services apply to all types of transactions and may help protect your account from being overdrawn by automatically transferring funds to your checking account from another account, or line of credit you may have at Christian Community Credit Union, for a fee or finance charge. Please note that overdraft lines of credit are subject to credit approval.
What is Courtesy Pay?
Courtesy Pay allows you to overdraw your account up to the disclosed limit for a fee in order to pay a transaction.
Courtesy Pay may provide you a specific Courtesy Pay limit depending on the type of account you have. You will receive a letter approximately 60 days after account opening, for consumer accounts, or after 30 days, for business accounts, informing you that Courtesy Pay has been activated on your account. You do not have Courtesy Pay until you receive this notification. Even if you have overdraft protection, such as a transfer from another account, Courtesy Pay is still available as secondary coverage if the other protection sources are exhausted.
Please be aware that the Courtesy Pay amount is not included in your balance provided through Christian Community Credit Union ATMs.
What types of transactions does Courtesy Pay cover?
The types of transactions covered by Courtesy Pay depend on the coverage selected. See the chart to the right for more information.
If you choose Extended Coverage, all the transaction types listed in Standard Coverage are included, along with ATM withdrawals and everyday debit card transactions. Christian Community Credit Union will not authorize overdrafts for everyday debit card and ATM transactions on consumer accounts unless you give us your consent to pay these overdrafts by electing Extended Coverage. Business accounts automatically have Extended Coverage.
|Standard Coverage (No Action Required)||Extended Coverage (*Your Consent Required)|
|ACH – Automatic Debits||X||X|
|Recurring Debit Card Payments||X||X|
|Online Bill Pay Items||X||X|
|At the Teller Window||X||X|
|Everyday Debit Card Transactions||X*|
How much does Courtesy Pay cost?
There is no fee for having Courtesy Pay unless you use it. The Courtesy Pay Fee of $27 will be imposed for overdrafts created by checks, ACH, point-of-sale, ATM withdrawals, in-person withdrawals, or by other electronic means. If multiple items overdraw your account on the same day, each item will be assessed the appropriate fee. This is the same amount that Christian Community Credit Union charges for items returned to the payee due to insufficient funds.
The maximum amount of Courtesy Pay fees that we will charge to your consumer account is $135 per day. All fees and charges will be included as part of the Courtesy Pay limit amount. Your account may become overdrawn in excess of the Courtesy Pay limit amount as a result of the assessment of a fee. The total negative balance, including all fees and charges, is due and payable upon demand. Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all such amounts, as described in the Deposit Account and Disclosure Agreement.
What if I don’t want Courtesy Pay?
You can request to discontinue the Courtesy Pay service in its entirety at any time by contacting us at 800-347-CCCU (2228) or sending us an email at [email protected]. Without Courtesy Pay, your insufficient funds items will be returned to the payee and/or declined at the point of purchase, unless you have Overdraft Protection available to cover the item(s). You will be charged the standard return fee of $27 for all returned items.
What if I want Christian Community Credit Union to pay my ATM and everyday debit card overdrafts (extended coverage)?
If you want us to authorize and pay overdrafts caused by ATM and everyday debit card transactions (Extended Coverage), tell us by using one of the following methods.
- Call us at 800-347-CCCU (2228)
- Visit our website at myCCCU.com/cpoptin.
- Visit one of our branch locations.
- Complete the Consent Form, which is available at any branch and was previously provided to you, and mail it to us at P.O. Box 9001, San Dimas, CA 91773-9001.
- Send us an email at [email protected].
NOTE: Business accounts automatically have access to Courtesy Pay for ATM and everyday debit card transactions. (Extended Coverage).
What else do I need to know?
- We post items in the following order: 1) ACH transactions: credits, debits (lowest to highest dollar amount), 2) checks (lowest to highest dollar amount), 3) ATM and debit card transactions (order received). The order in which transactions are posted may impact the total amount of overdraft or return fees assessed.
- A single larger overdraft will result in just one fee, as opposed to multiple smaller overdrafts.
- Although under payment system rules, Christian Community Credit Union may be obligated to pay some unauthorized debit card transactions, Christian Community Credit Union will not authorize debit card or ATM transactions unless there are sufficient available funds (including Overdraft Protection) to cover the transactions and the amount of any fee(s).
- Giving us your consent to pay everyday debit card and ATM overdrafts may result in you incurring overdraft fees for transactions that we would otherwise be required to pay without assessing an overdraft fee. However, this may allow us to authorize transactions up to the amount of your Courtesy Pay limit and may also help you avoid overdrafts in excess of your available funds that could result in restriction of your debit card.
- Christian Community Credit Union will 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 the funds will be added to the available balance in your account. If your account is overdrawn after the held funds are added to the available balance and the transaction is posted to the available balance, a Courtesy Pay Fee may be assessed.
- Except as described in this brochure, Christian Community Credit Union will not pay items if your account does not contain available funds (including the Courtesy Pay limit) to cover the item(s) and the amount of any fee(s).
- We may restrict your debit card use if you incur overdrafts in excess of the available funds in your account including any Courtesy Pay limit.
- Courtesy Pay is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice.
- Courtesy Pay may be discontinued if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within thirty (30) days for a minimum of one business day.
Overdraft Protection and Courtesy Pay Summary
- Overdraft Protection services allow you to link other sources you have with Christian Community Credit Union to your checking account in order to prevent overdrafts and are less expensive options than an overdraft.
- Courtesy Pay allows you to overdraw your account for a fee of $27 in order to pay a transaction.
- Courtesy Pay limits of up to $250 (Student Checking accounts) or $750 (FREE Checking and Checking Plus accounts) are available for eligible Personal Checking accounts opened at least 60 days in good standing.
- Courtesy Pay limits of up to $1,500 (Business Checking accounts) or $2,500 (Corporate Checking and Ministry Checking accounts) are available for eligible Business Checking accounts opened at least 30 days in good standing.
- Standard Courtesy Pay covers checks, ACH transactions, or automatic/pre-authorized debits that you establish (insurance premiums, utility bills, etc.).
- Extended Courtesy Pay covers ATM withdrawals and everyday debit card transactions on your personal accounts with your prior consent. Business accounts automatically have Extended Coverage.
- Both Overdraft Protection and Courtesy Pay may enable you to avoid expensive merchant returned-check charges.
- Both Overdraft Protection and Courtesy Pay may enable you to avoid having your ATM or debit card transactions declined due to insufficient funds.
- You must deposit the full amount of the overdraft (within 30 days), including any fees assessed, and maintain a positive balance for at least one business day to continue to receive Courtesy Pay.
- Good account management is the best way to avoid overdrafts. Use our mobile banking, internet banking, and telephone banking services to help keep track of your balance.
For additional money management tips, visit our website at mycccu.com/manageyourmoney.
If you have questions about Overdraft Protection or Courtesy Pay, please call us at 800-347-CCCU (2228).