Overdraft Services
Overdraft Services
Overdraft Services
We Do Our Best to Make Inconveniences Convenient
Just as we give you options to save and spend, we give you options to protect your finances in the event of an overdraft.
Link Accounts
If your checking account runs out of money, our system will conveniently and automatically pull from your savings. This simple feature is only $3 per transaction.
Courtesy Pay*
We offer two types of plans: Standard Courtesy Pay and Courtesy Pay Plus. Standard will cover checks and other transactions made using your checking account number, ACH Debits and recurring debit card transactions whereas Plus will also cover ATM overdrafts and everyday debit transactions. Fill out the Opt-in-Form
Line of Credit
Borrow what you need (up to the credit limit), when you need it. This hassle-free process automatically covers any overdrafts and allows you to take control of your financial situation. Apply Now
In order to qualify for Courtesy Pay Plus you must first complete the Opt-In Form.
*Terms and Conditions associated with Courtesy Pay:
The credit union is not obligated to pay any item presented for payment if your checking account does
not contain sufficient collected available funds. However, if you maintain your account in good standing,
Las Colinas Federal Credit Union will approve your reasonable overdrafts. The total dollar amount of
overdrafts the Credit Union will honor per member at any given time is not to exceed $500, including
fees. If you have authorized overdraft protection from your Share Savings account and/or if you have
funds available from an existing Line of Credit which has been designated by you to be used as overdraft
protection, we will transfer any available funds from these accounts first before we approve a Courtesy
Pay advance.
Non-Sufficient Funds/Courtesy Pay Handling Fees: regardless of whether we pay or return a non-
sufficient funds item, we will charge your account either a per item $35 non-sufficient funds fee, a per
item $35 Courtesy Pay Share and ACH overdraft fee, or $10 ATM and Debit card transaction handling fee
as set forth in our Fee Schedule.
If Las Colinas Federal Credit Union decides to pay a check and/or withdrawal that exceeds the available
funds in your checking account, you agree to pay a handling fee of $35 per transaction paid, which will
be added to your balance along with the funds advanced by Las Colinas Federal Credit Union to pay the
overdraft. Your account may be subject to a $35 fee for each item regardless of whether we pay or
return the item. We may charge the $35 fee each time an item is submitted or resubmitted for
payment; therefore, you may be assessed more than one fee because of a returned item and
resubmission(s) of the returned item.
We may refuse to pay an overdraft for you at any time, even though we have previously paid overdrafts
for you. You will be notified by mail of any non-sufficient funds items that were either paid or returned.
However, we have no obligation to notify you before we pay or return any item.
The amount of any overdraft including our handling fees is due and payable upon demand. If there is an
overdraft paid by us on an account with more than one owner on the signature card, each owner and
the agent if applicable, shall be jointly and severally liable for such overdraft including all fee amounts.
Courtesy Pay may be discontinued if you default on any Las Colinas Federal Credit Union loan or other
obligation to Las Colinas Federal Credit Union, your account becomes subject to any legal or
administrative order or levy, or you fail to maintain your account in good standing by not bringing your
account to a positive balance within the 44 days for a minimum of one business day.
Courtesy Pay Limitations and Eligibility Requirements
The Credit Union will only offer this program to members "in good standing." To be considered "in
good standing," the following qualifications must be met: an account must be opened for 90 days,
a qualifying Direct Deposit, and a member must be 18 years old (Galaxy checking account doesn’t
qualify). Available on checking accounts only. Savings accounts, public fund/charitable
organization accounts, certain trust accounts, deceased member accounts, and any accounts for
individuals under the age of 18 are not eligible for this service. Members with the following
conditions on their account(s) are temporarily ineligible for Courtesy Pay but may become eligible
once the condition(s) are removed: Past due on any Las Colinas Federal Credit Union loan of more
than 31 days, charged-off Las Colinas Federal Credit Union loan, Las Colinas Federal Credit Union
accounts with a negative balance for more than 44 days; accounts with levies, garnishments or
bankruptcies.
LIMITATIONS: Members may be allowed to overdraw through Courtesy Pay their share draft
account up to an aggregated total of $500.
For more information about Courtesy Pay, please contact one of our member service representatives.