STAY PROTECTED - Opt In For Overdraft PrivilegesSTAY PROTECTED - Opt In for overdarft privileges.
A new regulation requires us to make some changes to services on your account. We want you to know about these changes and their impact on your checking account and the way you use your ATM Check Card.
After August 15th, the everyday debit card purchases and ATM transaction you make with your ATM Check Card will no longer be covered by our Member Privilege overdraft service unless you specifically request this service on your account.
That means if you use your ATM Check Card and there is not enough money in your account or if a deposit is not yet available, your card will be denied.
These everyday debit card transactions include purchases at the grocery store, gas stations, doctors’ offices, pharmacies, and any time you use your card for a one-time transaction, as well as withdrawals and other transactions at the ATM.
If you wish to keep Member Privilege overdraft service for your everyday debit card purchases and ATM transactions, you must opt-in.
Our Member Privilege overdraft service was designed to protect you in case of emergency and to save you the cost and embarrassment of having your transactions denied. Be sure to let us know if you want to keep this valued service for your everyday debit card purchases and ATM transactions.
THE CHOICE IS YOURS. If you do nothing your Member Privilege overdraft service will be discontinued for your everyday debit card purchases and ATM transactions effective August 15th. If you wish to keep your Member Privilege overdraft service, you can Opt-in at anytime. Doing so is easy, just call the Credit Union at 860-584-0956 or stop by one of the offices to complete your Opt-in form.
* The effective date of the change is August 15, 2010 for accounts opened before July 1, 2010. For accounts opened after July 1, 2010 the effective date of the change is July 1, 2010. Beginning August 15, 2010, we will not authorize and pay overdrafts on ATM and everyday debit card transactions without account holder consent. An overdraft (OD) fee or insufficient funds (NSF) fee of up to $25.00 will be charged for covering overdrafts that result in a negative balance at the end of the day. Overdrafts may be created by check, ACH, online banking transactions, phone transactions or other electronic means. Recurring debit card transactions (payments that are set up to bill and pay automatically), such as an automatic draft from your health club or insurance company, may continue to be covered by your overdraft service. Once an overdraft has occurred you are required to bring your account to a positive balance within 30 days. We reserve the right not to pay if your account is not in good standing.
