Unforeseen circumstances happen to all of us. And sometimes, they seem to happen at just the wrong time. Whether it is an unanticipated car repair, a mistake while balancing your checkbook or unexpected expenses, these situations can cause stress and embarrassment and can impact personal financial management.
We at Golden 1 understand these events can happen to all of us. That's why we offer a Courtesy Pay program.
The Courtesy Pay program is a service offered to eligible members that will provide a limited amount of overdraft protection from which we may authorize and pay checks, ACH/Electronic Items and everyday debit card transactions initiated for payment against your eligible checking account. While Courtesy Pay is not a loan, it may cover items such as checks, up to a $500 limit, when account funds are not available. That means, instead of returning a check to the merchant because of insufficient funds, Golden 1 may pay your check, ACH/Electronic Item and everyday debit card transactions, saving you additional charges from merchants as well as the embarrassment of an inadvertent overdraft.
Overdrafts on your eligible checking account, up to a limit of $500 [including the amount of the overdrawn item(s) and the Courtesy Pay fee(s)] may be honored by Golden 1. A Courtesy Pay fee of $27.50 will be assessed for each item that draws your account negative. You must then bring your account back to a positive balance immediately or as soon as possible, and at least once every 30 days, either through a direct deposit, transfer of funds or a deposit at one of our full-service ATMs or one of our many branches.
If you have established alternate overdraft protection methods such as a line of credit or automatic transfer from your other accounts, we will pay an overdraft if funds are available using these methods before paying your overdraft utilizing Courtesy Pay.
When you open an eligible checking account type, you are automatically enrolled in the Courtesy Pay program for checks and ACH/Electronic Items. You must provide your consent ("opt in") to take advantage of Overdraft Protection For Everyday Debit Card Transactions, a feature of Courtesy Pay.
You may choose to opt out and no longer participate in the Courtesy Pay program at any time by coming in to a branch or calling the Member Service Contact Center and completing the Courtesy Pay Opt Out form. If you no longer participate in the Courtesy Pay program, and you have opted in to the Overdraft Protection For Everyday Debit Card Transactions feature, you will be automatically removed from the debit card protection.
As long as your eligible checking account is in good standing, you may remain enrolled in Courtesy Pay for checks and ACH/Electronic Items and revoke your opt in to the debit card feature at any time. You may revoke your opt in by visiting one of our branches or contacting our Member Service Contact Center at 1-877-GOLDEN 1 (1-877-465-3361).
To learn more about Overdraft Protection For Your Everyday Debit Card Transactions, visit golden1.com/DebitOverdraft.
The Courtesy Pay program is a service offered to eligible members that will provide a limited level of protection from insufficient funds, returned checks, ACH/Electronic Items, everyday debit card transactions and returned check charges from merchants. Under the program, Golden 1 may overdraw your checking account up to $500, which includes any fees associated with the program. The $500 limit may be reduced by non-program transactions and applicable fees affecting your checking account balance.
You must maintain your eligible checking account in good standing. This includes, among other requirements, the following:
Golden 1 is committed to keeping our members informed. If you have any questions regarding our Courtesy Pay program, please do not hesitate to contact our Member Service Contact Center at 1-877-GOLDEN 1 (1-877-465-3361).
A Courtesy Pay fee of $27.50 will be imposed each time we pay an overdraft on everyday debit card transactions, checks and ACH/Electronic Items. Once an overdraft has occurred, you must bring your account to a positive balance (not overdrawn) immediately. 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.
This credit union is federally insured by the National Credit Union Administration.
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