Overdraft Protection

Privilege Pay is our overdraft protection service that allows member checking accounts to go into the negative, up to $1,000 for those “oops” moments. We require that the amount be paid back within 45 days. See Member Account Agreement (disclosure) below for service details.

What does it mean to Opt-IN?

Members with checking accounts that want Privilege Pay benefits, are required to opt in for the service. If a member chooses not to Opt-IN, they may experience a declined transaction when funds are not available to cover it.

How to Opt-IN

Opting in, is easy! Just tell us you want to Opt-IN to have Privilege Pay coverage.

To submit your request:

  • Stop by any of our branches
  • Call us: (541)343-6238 or (800)477-3328
  • Email us
  • Mail us

What you need to know:

  • If you have more than one checking account with us, you’ll need to Opt IN for each account
  • You will receive a confirmation letter after opting in.
  • You can Opt IN and never use it, but it’s there just in case.

Member Account Agreement (disclosure) For Privilege Pay Overdraft Protection Service:

Privilege Pay Overdraft Protection Service. We offer a discretionary overdraft service (Privilege Pay) to cover overdrafts on your checking accounts. The Credit Union offers the Privilege Pay service to eligible consumer checking account owners who qualify. Privilege Pay is not offered to minors or anyone who has caused a financial loss to the Credit Union, anyone with a past due loan payment
at the Credit Union or anyone who has enrolled in a debt management program.

The Privilege Pay service is provided to qualified accounts for checks, ACH and online transactions only if you expressly request (“opt-in”) Privilege Pay service for these transactions, and you have the option to opt-out of the service at anytime. Privilege Pay service will be provided for ATM card and debit card (POS) purchase transactions only if you expressly request (“opt-in”) Privilege Pay service for these transactions.

Terms & Conditions of Overdraft Protection Service. The Privilege Pay service will be provided under the following terms and conditions.

  • Discretionary Service. Under the Privilege Pay service, we are not obligated to pay any check or item presented for payment if your account does not contain sufficient funds. We may, as a discretionary service and not as a right of yours or our obligation to you, pay overdrafts up to an approved overdraft limit under the terms of this service and subject to our Member Account Agreement.
  • This overdraft service is not a line of credit, is not guaranteed, and is independent of any loan arrangement you may have with us. We will not pay an overdraft for you in excess of any limit we have established for your account type. Also, we may refuse to pay an overdraft for you at any
    time, even if we have previously paid overdrafts for you.
  • Overdraft Transactions Covered. Subject to the opt-in requirement set forth above, if on any day you do not have available funds in your account, the following transactions, which may result in an insufficient or negative balance (“overdrafts”), may be covered under our service: checks, debit card purchases, online or other electronic funds transfers, ACH debits and other payments or withdrawals authorized by you, account service charges, pre-authorized drafts, and any other items that may be posted to your account. If we pay an item, we will pay the item in the order it is presented or received by us, regardless of amount and in accordance with our normal operating
    procedures for such checks, items or transactions.
  • Overdraft Limit/Available Balance. If you qualify, the Credit Union may pay overdrafts up to a limit to which you qualify (“Overdraft Balance”). We may pay overdrafts up to this overdraft limit provided you continue to qualify for the service. The Credit Union’s fees and charges and each paid check or item will be included in this limit. This overdraft balance will not be included or reflected in your actual or “available balance” of your account provided by a teller, at ATM or POS facilities, through online services or on your periodic statements.
  • Overdraft Fees. There is a Privilege Pay fee for each overdraft check or item we pay as set forth on the Rate and Fee Schedule. If we do not pay the overdraft, there is a Returned Item fee for each check or item we return as set forth on the Rate and Fee Schedule. We may charge a fee each time a check or item is submitted or resubmitted for payment. Therefore, you may be assessed more than one fee as a result of a returned item or re-submission(s) of the returned item. There is a $100 limit on the amount of overdraft fees that we will charge on any one day. If you have excess overdraft activity we will notify you in writing to consider discontinuing the
    Service. These fees may be amended as set forth in our Rate and Fee Schedule.
  • Member Repayment Responsibility. You agree your overdraft balance, including applicable overdraft fees, is due and payable upon demand. If there is more than one owner on an account, all owners are jointly and severally liable for repayment of the overdraft balance. If you fail to repay your overdraft balance within 45 days of notice from us, we may immediately suspend the Privilege Pay service. Accounts may be closed for failure to repay overdraft balances and we will report account closures to consumer reporting agencies.
  • Member Opt-Out Right. We offer the Privilege Pay service as a service and convenience to members for incidental overdrafts. We do not encourage you to repeatedly overdraw your account. We encourage you to manage your finances responsibly. You may opt out of the Privilege Pay service at any time by notifying us verbally or in writing. We may require that any verbal opt-out be confirmed in writing. You understand that by opting out of this service, we may refuse to pay any check or item that is presented against an insufficient balance on your account and you will be responsible for any Returned Item fees. You are still responsible to pay any overdraft, even if you have opted out of the service.

Member Account Agreement