Overdraft Protection. Learn. Opt-In. Empower Yourself.

Overdraft protection is a service that is available when you have insufficient funds to cover your transactions.  USE Credit Union provides several forms of Overdraft Protection to members:

Overdraft Protection:

• Members can establish overdraft protection by linking their checking account to their savings account, credit card, and/or unsecured line of credit
• There is no fee for overdraft protection from credit cards or lines of credit, and a $10 fee per item for overdraft protection from savings
• Members can select the order of accounts in which funds are advanced to cover overdrafts
• Overdraft protection is limited to the amount of available funds in the member’s other accounts – the available balance in savings and/or the available line amount on their credit card and/or line of credit
• Once all other means of overdraft protection are exhausted, including if the member has no form of overdraft protection, then USE Credit Union makes available the Courtesy Pay privilege overdraft protection on select accounts
• The fee for Courtesy Pay is exactly the same as the Return Item/Overdraft fee – in other words, if USE pays the item using Courtesy Pay, or if USE rejects the item and doesn't pay it, the member is charged exactly the same amount
• The value for the member in having the item paid rather than sent back is that the member is “protected” from incurring even more fees from the third-parties involved in the transaction – merchants can legally charge up to 3xs the amount of the “bounced” check.
• Courtesy Pay is a set limit, based on the type of checking account; USE has the right to revoke this privilege at any time and put members in a “Non-Courtesy Pay” version of their checking account
• Overdrafts which exceed the Courtesy Pay limit are returned and the member is charged the Return Item/Overdraft Fee 
• Members have 30 days to “cure” the Courtesy Pay overdraft by depositing funds in their checking account to cover their negative account balance

Overdraft Protection on Debt Card Transactions
Beginning August 13, 2010 for existing accounts (or beginning July 1, 2010 for new accounts), USE is declining point-of-sale debit card transactions if funds are not available in your checking account or in the account(s) that are linked to Overdraft Protection, unless you opt-in for this protection. You won’t have access to courtesy overdraft protection, even if you need it and want it, unless you opt-in. Remember, Courtesy overdraft protection is a safety net that is activated only when other overdraft options -- links to savings, a USE credit card or an unsecured line of credit – have been exhausted. Courtesy overdraft protection is your last line  of defense against the embarrassment, inconvenience, or risk of declined ATM or debit transactions when you need access  to funds that you may not have at the moment.

Overdraft Election Opt-In Decision: Debit Card Transactions:
Opting-In for Courtesy Overdraft Protection doesn’t mean you will ever use it!  It simply means you will have this protection available to you if and when you need it – you are in the driver’s seat and decide when to activate it based on your needs. There is no cost to enroll and no annual fee. You are never obligated to use this service! As a benefit of membership, you get one free overdraft/NSF refund per year upon your request.

It's easy to make your opt-in election.  If you have more than one account, please make an election for each account.  Here's all you do:

• Log into Online Banking
• Click the Secure Forms link
• Click the Overdraft Election Form
• Follow the simple instructions to make your election
• Get empowered and opt-in today!

USE Credit Union's Courtesy Pay Overdraft Privilege Compared to Other Banks: 
When events happen and courtesy overdraft protection is needed, USE Credit Union's program features lower fees and fewer fees than most other financial institutions. In fact, USE's courtesy overdraft charges are generally as much as 30% lower than the fees charged by major banks. Morever, USE never charges a daily fee like many banks. And, USE gives every member the opportunity to receive one free overdraft/NSF refund per year upon request!

Free Tools from USE Credit Union to Help You Better Manage Your Cash & Avoid Overdrafts:
Your best strategy in managing the need to use overdraft services is to always be aware of your account balance. USE provides several free tools, which are portable and accessible 24/7, to help you verify your available funds before making your next purchase:

• Free Account and Balance Alerts
• Free Online Banking Service
• Free Mobile, Text and Smart Phone Banking Service
• Free Money Management Financial Tools through FinanceWorks, powered by Intuit Financial Services
• Free Budgeting Seminars, Workshops and Online Education
• Free Online Calculators
• Free Online Balance Transfer

Not currently enrolled in Online Banking?  No problem!  Online Banking is FREE and EASY to enroll right now!