An Overdraft occurs when you process a transaction on your account and there are insufficient funds* to pay the transaction in full. When your Overdraft Transfer Protection sources do not cover the transaction or are not available, the Courtesy Pay Overdraft service pays the transaction. A $14 Courtesy Pay Overdraft Fee is assessed each time you use Courtesy Pay Overdraft.
*Your checking account has two types of balances: the “current” balance and the “available” balance. Your current balance is the amount of money that is actually in your account at any given time. It reflects transactions that have “posted” to your account, but not transactions that have been authorized and are pending. Your available balance is the amount of money in your account that is available to you to use without incurring a Courtesy Pay Overdraft Fee. The available balance takes into account things like holds placed on deposits and pending transactions (such as pending debit card purchases) that the Credit Union has authorized but that have not yet posted to your account. Available balance is used to determine when your account is overdrawn.