Welcome Federal Credit Union

When you’re busy it’s easy to lose track of your checking account balance. At times, a mistake, unanticipated expense, or unforeseen problem can leave you with too little cash in your checking account. We understand that mistakes happen – that’s why we’ve designed several overdraft programs to give you peace-of-mind checking.

Courtesy Pay

Our overdraft programs include no-fee overdraft savings transfers, overdraft line-of-credit loans that accrue finance charges and can be repaid by monthly payments, and Courtesy Pay. Courtesy Pay provides a safety net for members when sufficient funds are not available from your other overdraft options to cover a returned *item. Courtesy Pay is a non-contractual consideration and does not constitute an actual or implied agreement between you and Welcome Federal Credit Union (WFCU). Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in **good standing, you are not making regular deposits, or you have too many overdrafts.

In the event you overdraw your checking account and you are a member in good standing, we will cover the check and charge you a non-sufficient funds fee. The fee is disclosed on the Rate & Fee Schedule. The fee is subject to change at the discretion of the Board of Directors. Courtesy Pay provides a safety net up to $500.00 including any per item fees. You will receive an overdraft notice in the mail each time items are paid on your behalf, taking your account to a negative balance. This is not a loan and the checking account balance must be brought to a positive balance within 30 days of the overdraft. Any deposits you make will first be applied to the any negative balance. No paperwork is required to participate in this service and no fees are applied to your account unless you use the privilege.

We encourage you to manage your checking account responsibly and we do not encourage overdrafts or NSF’s that would take your account into the negative. The privilege of Courtesy Pay may save you the potential embarrassment that a returned check can cause, protect you from additional NSF fees from merchants, save you from the potential credit problems an NSF can cause, and uphold your privacy by not involving additional parties in an inadvertent overdraft.

Courtesy Pay is being provided as a safety net for you. However, you can voluntarily ‘opt out’ of the service by notifying your branch.

Please stop by or phone one of our branches if you have any questions. Thank you for choosing Credit Union Checking. We appreciate your business.

* Eligible items include: Checks, pre-authorized ACH (automatic debits), point of sale transactions (debit cards), ATM card transactions, TellerLine phone transactions, Virtual Branch Home Banking transactions, and other electronic transfers.

** A member in good standing includes the following:

1. WFCU checking account must have been open for at least 90 days.

2. You must have regular deposits into WFCU checking account by direct deposit each and every payroll frequency.

3. You must have shown financial responsibility with WFCU checking account (or previous checking account at another financial institution as reported through credit and check reporting services).