Most of us have found ourselves facing an occasional cash crunch at one time or another, be it the result of our own accounting error or an unexpected expense. That’s why we are pleased to offer Courtesy Pay - a convenient benefit that can make it easier to weather life’s unexpected storms.
What is Courtesy Pay?
Courtesy Pay is a noncontractual overdraft protection service that we may offer to our members with eligible share draft (checking) accounts. As long as you maintain your account in good standing, we may cover insufficient fund items up to your approved $500 Courtesy Pay limit. We will charge our $30.00 overdraft fee and send you a notice when an overdraft occurs. You are required to bring your account to a positive balance within 30 days.
How can I add Courtesy Pay for my checks, automatic bill payments and other recurring debit transactions?
Courtesy Pay is automatically added to your account, if in good standing, for checks, automatic bill payments and other recurring debit transactions using your account number, such as a gym membership, electric bill, etc. You can remove this service at any time by contacting us.
How can I add overdraft coverage for ATM withdrawals and everyday debit card purchases?
Simply contact us and ask to add overdraft coverage for your ATM withdrawals and everyday debit card purchases (see document titled “What You Need to Know About Overdrafts and Overdraft Fees” for details). There are no applications or credit approvals necessary. You can revoke this service at any time by contacting us.
How does Courtesy Pay work?
With Courtesy Pay, if we receive an item that causes the balance in your account to go below zero, as a courtesy, we may pay the item up to your $500 limit; including the overdraft fee.
Are other overdraft protection options available?
Yes, we also offer overdraft protection through a line of credit or link to your savings account, which may be less expensive than Courtesy Pay. To learn more, ask us about these plans.
Is there a charge for Courtesy Pay?
There are no fees to have the service available on your account. If you use Courtesy Pay you will be charged a $30.00 fee for each insufficient item as described in our Courtesy Pay Policy. The charges associated with Courtesy Pay are also listed in the Schedule of Fees & Charges.
What if I want Gundersen Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions?
If you want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call us at (608) 775-4715 or complete the form below and present/mail it to:
Gundersen Credit Union
1910 South Avenue
La Crosse, WI 54601
You have the right to revoke your decision at any time.