Important Information about Overdraft Services! New federal law affects how overdraft services are provided for your account. Because of a new federal law that becomes effective July 1, 2010, we will no longer pay overdrafts for ATM or everyday debit card transactions unless you authorize us to do so. Soon, you will be receiving a notice requiring your authorization. Please sign it and return it promptly to allow us to continue providing this valuable service. Without authorization, your overdrafts will STOP being paid.

Unforeseen circumstances happen to us all...and usually at just the wrong time!  Your car breaks down on Wednesday and you don't get paid until Friday. You make an honest mistake in your checkbook and it leaves you a little short to cover all your outstanding checks.
 
This service may allow us to pay an item presented for payment against your Checking account even if it causes the account to become overdrawn. While it is not an invitation to overdraw your account, it is an added layer of safety should you accidentally write checks for more than you have in your account, or an inadvertent error causes the account to become overdrawn.
 
Overdraft Protection/Courtesy Pay adds a pre-approved $500 overdraft limit to your personal checking account. If you overdraw your account, we may pay each check up to your $500 limit. Your account will be assessed our normal Overdraft Protection/Courtesy Pay Charge for each time we pay against an overdrawn account. You will not be charged a non-sufficient funds fee unless your overdrafts exceed the courtesy pay amount.
 
There are many benefits to you with this new authorization.

• Saves you from the embarrassment of returned checks
• Saves you from merchant returned check charges
• Saves you collection agency fees and protects your good credit rating

We require no application or additional signatures from you to add this safety measure to your  Checking account. Account must be open and in good standing for 90 days to qualify.
 
That's why CommonWealth Credit Union offers Overdraft Protection/Courtesy Pay, an added member service that protects you from the embarrassment and expense of returned checks Overdraft Protection/Courtesy Pay...Because Life Happens.