What does it mean to overdraw your account?

A bank account is overdrawn if your balance goes below zero.

This can happen if:

• it looks like you have money to take out, but another transaction hasn’t gone through yet
• you use ACH payments to pay your bills

What happens when your account is overdrawn?

If you overdraw your account, the credit union will add funds to your account to complete a transaction. At that time, a Courtesy Pay Fee is charged to your account. The same fee is charged whether an item is paid or returned as unpaid. If multiple items overdraw your account on the same day, each item will be assessed an appropriate Courtesy Pay Fee not to exceed 3 fees.

How to protect your account from being overdrawn

Overdraft Protection

Overdraft Protection applies to all transactions and may help prevent overdrafts by automatically transferring funds to your checking account from another account for free or from a Members 1st Credit Union line of credit for a fee or finance charge. Please note that overdraft lines of credit are subject to credit approval.

Courtesy Pay Standard Coverage

Courtesy Pay allows you to overdraw your account up to the disclosed limit for a fee to pay a transaction. Even if you have overdraft protection, Courtesy Pay is still available as secondary coverage if the other protection source is exhausted. Please review the "What Else You Should Know" section at www.m1cu.org/courtesy for other important information.

Courtesy Pay Extended Coverage

Courtesy Pay Extended Coverage includes all Standard Coverage, plus transactional coverage for everyday Debit Card transactions and ATM transactions.

For more information or to sign up for courtesy pay extended coverage, CLICK HERE.