We get it. Things happen.
And when they do, if you’re eligible, we may cover your overdraft.
What is Courtesy Pay?
Courtesy Pay is a discretionary service provided to some Alltru Credit Union accounts. It is designed to help prevent insufficient funds items from being returned or declined. Alltru Credit Union may provide you with Courtesy Pay depending on the type of account you have.
How does Courtesy Pay work?
If you have debits (checks, ACH, debit card transactions) presented against insufficient funds, we may elect to cover your overdrafts up to your Courtesy Pay limit. As long as your account remains in good standing, you make regular deposits into your account, bring your account to a positive balance as soon as possible within 30 calendar days, and maintain a positive balance for one processing day you will continue to receive Courtesy Pay.
How much does Courtesy Pay cost?
There is no fee for having Courtesy Pay unless you use it. You will be charged a fee of $29.50 for each item presented against insufficient funds. Whether the item is paid or returned, you will be assessed the regular Returned Item/Overdraft fee. When your items are paid, this service will help save you the embarrassment and inconvenience of a returned item, as well as the fee normally charged to you by merchants for items, returned to them (which may be $35 each or more). Plus, you potentially avoid being placed on returned item/checklists or being reported to credit reporting agencies.
Of course, we can’t promise to pay every time, and only certain accounts qualify. See the overdraft policy chart and disclosures below for more details.
| OVERDRAFT PROTECTION PLAN OPTION | AVAILABLE FOR | NOT AVAILABLE FOR | TRANSACTION COVERED | COST* |
|---|---|---|---|---|
| Courtesy Pay 1 | Tailormade Checking, Basic Checking, Value Checking, Premium Checking | StepOne Checking, Opportunity Checking, Opportunity Checking II, STL Youth Jobs Checking, Work 1st Checking | Checks, ACH Automated Debit, Bill Pay | $29.50 per overdraft |
| Debit Card Courtesy Pay 1, 2 | Tailormade Checking, Basic Checking, Value Checking, Premium Checking, Opportunity Checking 6 | StepOne Checking, Opportunity Checking II, STL Youth Jobs Checking, Work 1st Checking | One-Time Debit Card Transactions; ATM Transactions5 | $29.50 per overdraft |
| Overdraft Transfer Plan 1, | Basic Checking, Tailormade Checking, Value Checking, Premium Checking, StepOne Checking, Opportunity Checking, Opportunity Checking II, STL Youth Jobs Checking, Work 1st Checking 4 | N/A | Checks, ACH Automated Debit, Bill Pay, ATM Transactions, Debit Card Transactions of Any Type | $0 |
| Overdraft Transfers from Line of Credit 1, 3 | Basic Checking, Tailormade Checking, Value Checking, Premium Checking, Opportunity Checking, Opportunity Checking II, Work 1st Checking 4 | Checks, ACH Automated Debit, Bill Pay, ATM Transactions, Debit Card Transactions of Any Type | $0 Per transfer, plus interest accrued on any associated Line of Credit. Transfers are subject to remaining available Line of Credit and/or funds available in transferring account. |