Courtesy Pay and Overdraft Disclosure

Nonsufficient Funds and Courtesy Pay

Courtesy Overdraft Privilege (ODP) is a service which provides protection for your checking account.  The service may be used to cover your eligible items when your available balance is insufficient. You should use your checking account responsibly and not intentionally overdraw your account, however, we realize that financial shortfalls happen and we offer overdraft protection services to ensure your eligible items are paid.  Courtesy Overdraft Privilege is not a loan and is not subject to interest charges or late fees however items paid are subject to fees.  Please read this entire disclosure to understand this service, including how items are paid and how fees are assessed.  The Credit Union may change the terms of this program or revoke the privilege at any time without notice.

Fees for Using this Service:

$29.00 for each item paid.


With Courtesy Overdraft Privilege, we will generally pay your overdraft items when paying them would not cause your available balance to go more than $300.00 into the negative.  However, payment of your overdraft items is at our discretion and we reserve the right not to pay.  For example, we typically do not pay overdrafts if your account is not in good standing, if you are not making regular deposits, or if you use the service irresponsibly.  Each item paid through this service is subject to a fee as set forth in the box above.

Overdraft Privilege Services and Alternatives:  Overdraft Privilege is one of three overdraft protection options and we encourage you to review all three before making decisions to opt in or out of these services.  You are not required to use any of our overdraft protection services.

Overdraft Protection Transfer:  If you have other transactional accounts with Christian Family Financial Credit Union, you can authorize us to set up an automatic transfer to move the funds needed to cover your overdraft. There is a limit of two (2) accounts that can be set up to cover overdrafts.  Regulation D does apply to any savings accounts set up to cover your overdrafts.  There is $2 per item charge for this service.  Call our office at 800-831-3972 ext 6 to set this up.

Courtesy Overdraft Privilege (ODP):  This level of overdraft privilege is available to members 60 days after their checking account is opened.  ODP can be used to cover your checks, individually authorized and recurring ACH transactions, internet banking and telephone transfers, POP money transfers, and online bill payments.  Each item covered is assessed a fee. To obtain Courtesy Overdraft Privilege you must complete our Election Agreement for Overdraft Protection,

Courtesy Overdraft Privilege Plus (ODPP):  This optional additional protection may be added to your checking account at any time provided you have ODP in place.  ODPP can be used to cover all of the ODP transactions plus your ATM and debit card transactions.  Each item coved is assessed a fee.  To obtain Courtesy Overdraft Privilege Plus you must complete our Election Agreement for Overdraft Protection.

Understanding your $300.00 Overdraft Limit:  We generally cover your items that will not take your available account balance more than $300.00 negative.  We then assess the applicable fees even if that takes your account more than $300.00 negative.

Eligibility:  Eligibility is at the sole discretion of the Credit Union and is based on you managing your checking account in a responsible manner.  Your ODP may be suspended or permanently removed at our discretion.  Our reasons may include but are not limited to:

  • You have an account that has been open less than 60 days
  • You do not bring your account to a positive balance within 30 days of becoming overdrawn
  • You account type is not eligible
  • You are more than 30 days past due on any Credit Union Loan or obligation
  • You are subject to any legal or administrative orders or levies, or you are currently a party in a bankruptcy proceeding.
  • The primary account owner is under 18 years old
  • Your account is classified as inactive
  • You have an unresolved prior loss with the Credit Union
  • We believe you are managing your account in an irresponsible manner which may harm you or us.

Accounts Eligible for Courtesy Overdraft Privilege (ODP):  ODP provides protection for personal checking accounts.  Share accounts, money market accounts, and business accounts are not eligible.  We limit the service to one checking account per member.

Notification:  You will receive a paper notice for each item paid. You can sign up for e-notices if you prefer to monitor your account electronically.

Obligation to Repay:  You must bring your account to a positive balance within thirty (30) days of the overdraft.  Failure to do so will result in account termination, our possible exercise of right to offset without prior notice, collection actions and negative credit reporting.  Please contact us immediately if you are unable to pay your balance in full within the required timeframe.  If we pay an overdraft on an account with more than one (1) owner, each owner is jointly and severally liable for such overdrafts and/or fees.  The Credit Union reserves the right to apply any other or later deposits, including direct deposits, to pay your overdrafts or overdraft fees.

Minimize Fees by Monitoring Your Account:  Courtesy Overdraft Privilege is intended to provide protection to ensure your items are paid if you have a temporary financial shortfall or make an error such as forgetting to properly record a transaction in your account register.  The best way to minimize overdraft fees is to monitor your account balance and ensure you have sufficient funds at all times.  You will want to know the tools we offer to help you monitor your account, because a financial shortfall may cause a number of items to be covered each with a fee.  All of these services are free.

  • Online banking:
  • Mobile Banking – Download the Christian Family Credit Union mobile app
  • Telephone Banking – You can call 24/7 888-565-3098 or 888-753-5959

Waiver:  The Credit Union’s forbearance from, or delay in, exercising any of the Credit Union’s rights, remedies, privileges, or right to insist on your strict performance of any provisions of your account agreement, this Courtesy Overdraft Privilege disclosure, or any other provision related to your account, shall not be construed to be a current or future waiver of the Credit Union’s rights, remedies, or privileges.