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Advantage Pay

Advantage Pay is a courtesy service that allows us, Credit Union Advantage, to pay a check written or item presented on our member’s checking account even if it causes the account to become overdrawn. The disclosure contained herein represents changes in the terms and conditions of said checking account as applicable. To the extent these disclosures are inconsistent with the terms and conditions of any of the account agreements, these disclosures govern, except as to consumer disclosures required by state or federal law.

Advantage Pay may provide certain account holders in “good standing” with the ability to overdraw their personal checking account up to $1,000. Established limit is based on individual qualifications and at the sole discretion of Credit Union Advantage. Overdrafts, as mentioned above, will include our normal non-sufficient funds fee of $30. 

An account is considered in good standing if it: 

  • Has been opened for at least 90 days
  • Has been making regular deposits sufficient to cover transactions
  • Has not been overdrawn for more than 45 consecutive days
  • Is not the subject of any legal process

Advantage Pay offers account holders additional flexibility and convenience in managing funds and provides peace of mind knowing that checks or other presented items may be paid up to the authorized Advantage Pay overdraft limit.

This non-contractual overdraft courtesy payment requires no account holder action; however Credit Union Advantage members may opt out at any time. No additional agreements need to be signed, and it costs nothing unless the courtesy pay is used by initiating checks, electronic transfers, or other payments such as those made with a debit card, that are more than is on deposit in the account. If account holder maintains the account in good standing and has the need for Advantage Pay courtesy pay, we may, at our sole discretion, pay the checks up to the authorized limit, and charge the account the normal non-sufficient funds fee of $30 for each item that overdraws the account. 

If you have or obtain an Overdraft Protection Line of Credit, we will cover your overdrawn account from your available line of credit in accordance with the terms and conditions of the Overdraft Protection Line of Credit agreement before we pay an overdrawn check under Advantage Pay. If you do not have an Overdraft Protection Line of Credit, or your Overdraft Line of Credit does not have enough available to cover the overdrawn amount, we will make a further transfer from available funds in your regular share savings to cover the overdraft in accordance with the provisions of your account agreement before we pay an overdrawn check, ATM (Automated Teller Machine)/Debit, or ACH (Automated Clearing House) transaction under Advantage Pay. 

Advantage Pay allows Credit Union Advantage to provide a higher level of service to our members by helping to protect their account and reputation when an inadvertent overdraft occurs. 

Please read the Advantage Pay Policy for additional information and contact Credit Union Advantage if you have any questions or need further clarification.

Advantage Pay Policy

It is the policy of Credit Union Advantage to comply with applicable laws and regulations and to conduct business in a safe and financially sound manner.

Insufficient (or negative) account balances may result from: 

  • Check payments, electronic funds transfers or other withdrawal requests
  • Payments authorized by the account holder
  • Unpaid return items deposited by the account holder
  • Imposition of Credit Union charges
  • Deposit of items which, according to the Credit Union’s Funds Availability Policy, are treated as not yet available or finally paid 

Credit Union Advantage is not obligated to pay any item presented for payment if the account does not contain sufficient funds. If however, the account holder maintains their account in good standing, we may, at the Credit Union’s sole discretion, pay the reasonable overdrafts as a non-contractual courtesy up to the established limit at that time. The Credit Union will not pay overdrafts in excess of $1,000 for personal checking accounts. Each Advantage Pay courtesy payment will include our $30 non-sufficient funds fee. 

An account is considered in good standing if it: 

  • Has been opened for at least 90 days
  • Has been making regular deposits sufficient to cover transactions
  • Has not been overdrawn for more than 45 consecutive days
  • Is not the subject of any legal process 

Credit Union Advantage may refuse to pay an overdraft at any time, even though we may have previously paid the overdrafts. The Credit Union however, has no obligation to notify the account holder before we pay or return an item. The amount of any overdrafts, plus our non-sufficient funds fee of $30 that the account holder owes, is due and payable upon demand and must be paid in full within 30 days of incurrence. If we pay an overdraft on an account with more than one (1) owner on the signature card, each owner and/or agent where applicable, drawing or presenting the item that created the overdraft, are jointly and severally liable for such overdraft(s) plus any non-sufficient fees. 

Limitations: Advantage Pay is available only to personal checking accounts with direct deposit. We may limit the number of accounts eligible for Advantage Pay to one account per household. Additionally, we reserve the right to not approve any overdrafts against any account until they can verify that the account is being maintained in good standing as defined above.

Fees: Whether we pay or return a non-sufficient funds item, a $30 per item fee may be charged to your account as a non-sufficient funds fee as set forth in our fee schedule. 

Disclaimer: Advantage Pay is a non-contractual courtesy and is discretionary. It is not an obligation of Credit Union Advantage and Credit Union Advantage may refuse to provide the courtesy pay on any personal checking account at any time and from time to time. The account holder(s) does not have a contractual right to Advantage Pay and said Advantage Pay courtesy pay is not guaranteed.

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