ACCOUNT SERVICES · OVERDRAFT PROTECTION & COURTESY PAY
Oops…What happens when you make a mistake? Your credit union can help protect you!
With our busy lives, it’s easy to make mistakes such as forgetting to deposit a check, make a transfer, or deduct your last debit charge from your balance. A simple error or balance miscalculation can lead to an unexpected shortage of funds. At Calcasieu Teachers & Employees Credit Union, we have options to help you minimize the impact of such a mistake.
Link your Checking Account to a Savings Account – If your accounts are linked and you do not have enough money in your checking account to cover a transaction, the Credit Union will transfer funds from your savings account to your checking account to cover the difference. This can save you money over other overdraft options because you are only charged a small transfer fee. Click Here to see our Fee Schedule.
COURTESY PAY PROTECTION
In addition to the Overdraft Protection option above, your credit union has a solution to help you with unexpected overdrafts using our Courtesy Pay Protection.
HOW DOES IT WORK?
Accounts using Courtesy Pay Protection are charged the standard Courtesy Pay fee (click here to see our Fee Schedule) for handling each overdraft created by check, ACH, Point-of-Sale1, or other electronic item that is paid. This discretionary service is limited to a $500 negative balance on Checking Accounts only. Courtesy Pay Protection is not a line of credit. However, if you inadvertently overdraw your account, we will have the discretion to pay the overdraft, subject to your Courtesy Pay limit. An overdrawn balance must be repaid within 45 days. We may not pay items under your Courtesy Pay Protection limit if you do not maintain your account in good standing by bringing your account to a positive balance within every 45 day period for a minimum of 24 hours, if you default on any loan or other obligation with the Credit Union or if your account is subject to any legal or administrative order or levy.
To extend your Courtesy Pay Protection to cover ATM and everyday debit card transactions, you must provide your consent (opt-in) in advance. Opting in can help you avoid embarrassment and point-of-sale hassles. If you choose not to opt-in your ATM or debit card may decline at the point-of-sale when a transaction exceeds your balance. To opt-in, simply fill out the form which includes additional information about your consent.
WHAT IF I CHANGE MY MIND?
You can discontinue the Courtesy Pay Protection in its entirety by contacting us at (337) 433-4525 or visiting one of our branches.
1 Point-of-Sale debit card transactions are only covered when you consent (opt-in) in order to be added to your account.